Now that we’re ruly in the middle of winter, I’m comparing today’s TradeMe rental property listings with those of 29th June 2016 to analyse the changes in the Wellington market and consider what may happen in future months.
Unsurprisingly, residential rental property listings on Trade Me are still on the decline this month as many tenants remain settled during these cold winter months.
Compared to the 29th June last year, TradeMe listings in the Wellington region have lowered from 665 to 595, with 11% fewer listings today.
This is largely influenced by the significant decline in listings within particular suburbs such as Tawa (71% decline in listings), Brooklyn (47% decline), and Kelburn (39% decline).
This decrease in Trade Me listings is likely to slow over the next 6 months as developments come to completion, adding to the supply of investment and rental properties.