Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Big incentives offered to spark NZ rental activity

Staff Reporter 1 minute read

The New Zealand residential property market is enjoying oversupply, causing average rent rates to drop by 3.5 per cent in the past three months, the Sydney Morning Herald today reported.

Rent reductions of up to 10 per cent a week are being used to entice new tenants to the suburbs that are having the most trouble filling property vacancies.

Waiheke Island, near Auckland, has registered a 21 per cent vacancy rate over the last three months for example.

Property managers said the unusually high number of rental homes on offer were due to tenants downsizing or moving into shared accommodation.

Big incentives offered to spark NZ rental activity
default
TheAdviser logo

The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney in August to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting. Visit the website for more information: www.accountantsdaily.com.au/strategy-day

default

 

more from the adviser
damian zaleski RYyr k3Ysqg unsplash

Breaking News

GetCapital launches broker platform

The business lender has rolled out a new broker platform, as it h...

fixed rate

Breaking News

Loyalty tax issue flagged to MPs

Brokers are key to holding lenders to account to ensure borrowers...

trade deal contract

Breaking News

Connective launches trail book marketplace

The aggregation group has announced a new arrangement with a spec...