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Rental Property Demand Soars in Whangarei
Welcome to Rentals.co's newsletter bulletin. 

Demand for rental properties is soaring in Whangarei. Why not please everybody and rent out yours?

The Hundertwasser Arts Centre and Wairau Māori Art Gallery is well under way and it’s a thrill to see local firm Trigg Construction winning the contract to deliver an excellent build.

The tourist numbers will add to an existing flow of families moving mainly up from Auckland settling here.

 

What these people need are investment properties!


Becoming a property manager can be a win-win. You want some rental yield; tenants want more properties available; and those selling their house will surely appreciate your interest!

To be fair, things are tough on first home buyers, though a good chunk of the population can’t even look at owning a home. They’ll be renting for a while as they figure things out. And that’s where you might come in.

Here’s what we know about Northland opportunities as the region enters winter (thanks to REINZ for the following data)

In April, the Northland market saw a record high median of $507,000, up 12.7% compared to the same date last year.

The total number of dwellings available for sale increased 15.6%. There was a 4% increase in new listings for the month.

Banks are competing on interest rates, but remain tough on lending, so if you can demonstrate you already have property as collateral, then you might get a loan for a property investment without too much hassle

REINZ says it has heard anecdotally that some vendors are reluctant to lower their price expectations to meet the changing market and buyers are in less of a rush to purchase.

There has been an 11% decrease in number of properties sold year-on-year.

One way to interpret this is you should get in quick and snap up a property to rent out before prices peak in a few years.

Recent regional median prices in Northland for April are:
Far North District – $480,000 median
Kaipara – $527,000
Whangarei – $515,000.

The median for the whole region is $507,000. Interestingly, this is higher than March, so despite the cold, we’re seeing price rises.
 

Now the big QUESTION - Where to buy


For that and further information on the Whangarei Property Market follow the link in the blue box below to this and many more great articles at RentalExperts.co.nz

 

Landlord Property Demand Soars

Landlords, relax - let the team at Rentals.Co manage this

Rentals.co has contacts who can help with every aspect of the landlord experience, leaving you to get on with your true passions. 
Rentals.co wears the following hats so you don't have to. 

Click on through to enjoy our past newsletters

From the team at Rentals.co
ph 09 459 7139

www.RentalExperts.co.nz
Our  location is:

9-11 Reyburn Street
Whangarei, Northland 0110.
P.O Box 5043, Whangarei
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Rental Experts · 9-11 Reyburn Street · Whangarei, Ntl 0110 · New Zealand

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