Wellington Market Insights - July 2016

The decline continues, with Trade Me rental property listings lowering from 707 to 647 throughout the Wellington region during this past month.

Miramar alone appears to be the only Wellington suburb that has had a significant increase in vacancies, with 36% more listings today than a month ago, suggesting the suburb is lowering in popularity amongst tenants.

In contrast, most Wellington suburbs appear to be rising in popularity, with 40% fewer listings in Johnsonville, 47% less in Newlands, and 15% fewer in Te Aro compared to this time in June. This scarcity in vacancies suggests people are more attracted to the inner city and western outer suburbs and are staying put during this cold month, which could cause rent values to rise in these suburbs as popularity grows.

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Article written: July 2016