The pool of Wellington properties advertised for rent on Trade Me has dropped further from 674 to 568 throughout the region this month.
Individual suburbs around Wellington are either declining or remaining static in Trade Me rental property listings, with no suburb significantly increasing in property numbers advertised. Northland is well down in Trade Me rental listings with 67% less listings than 3rd July 2016. Other notable suburbs following this trend are Tawa with 30% less listing, Oriental Bay with a 25% decline in listings, and Miramar with 32% fewer properties advertised than this time last month.
Compared to last year, Wellington Central has greatly changed, with 44% fewer rental listings than Early August 2015 when there were 124 rental listings on Trade Me compared to the 69 now. This low number suggests people are more attracted to the city centre this year and are staying. If the number of properties advertised remains low we may expect rents to slowly increase.
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Article written: August 2016