Trade Me rental listings continue to decline in the Wellington market over the past month, with Trade Me rental listings lowering from 697 to 676 throughout the Wellington region.
Johnsonville rental listings have dropped by 41% compared to 6th June 2016, largely influencing this decline. Other suburbs have also shown popularity amongst tenants this month, with Lyall Bay listings lowering by 20%, Tawa by 25%, and Wellington Central by 8% to 79 listings.
Some of the few suburbs going against this trend is Ngaio with 160% more listings, and Northland with 63% more listings than early June.
Compared to this time last year, Wellington Central has had the greatest change, with 38% fewer rental listings than early July last year when there were 128 rental listings on Trade Me compared to the 79 now. This low number suggests people are more attracted to the city centre this year and are staying. However, if the number of properties advertised remains low we expect rents to continue edging higher.
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Article written: May 2016