The Ripples Are Spreading

As rents rise in the Auckland region, renters start looking elsewhere. Hamilton is the nearest large centre close to Auckland.
so it comes as no surprise that rents are tightening as competition with locals and out of towners
fight over the same space.

Where have all the houses gone?

ANDREA FOX AND ANGELA CUMING

31/03/2012

House rents in Hamilton could be on the rise soon as some real estate companies report a shortage and strong competition even for modest properties.

The city’s biggest rental property manager, Lodge City Rentals, said it was experiencing unprecedentedly low vacancy rates.

General manager David Kneebone said the company’s vacancy rate was at 1.12 per cent, the lowest he had seen in 15 years.

Hamilton was traditionally a “tight” rental market, with rentals in shorter supply from February to April, but usually the vacancy rate was about 3 per cent, he said.

Read the rest here:

http://www.stuff.co.nz/waikato-times/news/6670554/Where-have-all-the-houses-gone

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