Tide turns for tenants

Saturday 21 August 2004

Fewer immigrants, a glut in the apartment market, and winter causes rents to level off in Auckland

By The Landlord

Whether the property market is slowing or not is up for debate, but the tide is turning in favour of tenants.

Auckland letting agents and newspaper classifieds managers are noticing an increase in housing stock available for rent.

Agents say whereas they were seeing tenants outbid each other to secure a property, rents have now levelled off.

Parnell Real Estate principal Cyril Dominikovich says well-presented properties in good locations are still popular. In the apartment market, reasonably priced and sized one bedroom units go first but more expensive two bedroom apartments and apartments without a car park are proving harder to let.

Barfoot and Thompson rental manager Helen Hodgson says landlords are having to do more to market their properties but house sales are still buoyant.

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