Property sector still strong in Manawatu

Broker Phil Christmas of Mortgage Link says the education, distribution and defence sectors in Manawatu are performing strongly and helping to drive population growth.

“They are all significant employers and as properties in this region are relatively affordable, there is still a preference to own a house rather than rent,” Christmas says.

“New housing and house upgrading has been popular in the last year, while property investors have been quieter as rental yields have changed.”

“While property prices may not grow at the same levels as previously, there is nothing to indicate values will ease significantly in this region. Property growth in the Manawatu has been consistent and relatively reliable over the last 30 years.”