TradeMe Snippets

We haven’t looked at TradeMe rental listings for some time and there has been a considerable change.

As at 19.7.21: By bedrooms:

  1 2 3 4 5+  
Christchurch 174 225 260 134 141 934
Banks Peninsular 5 3 3 1 0 12
Selwyn 5 11 22 17 7 62
Waimakariri 1 5 16 12 1 35
  185 244 301 164 149 1043

At September 2020: By bedrooms:

  1 2 3 4 5  
Christchurch 249 332 335 149 95 1160
Banks Peninsular 1 4 9 0 0 14
Selwyn 4 10 32 34 7 87
Waimakariri 1 4 11 8 0 24
  255 350 387 191 102 1285
  • A 19% drop in total number of available rentals
  • Drop is over all property sizes except 5+ bedroom sector. Always a difficult one except for room x room and student accommodation. This time of year, both are slow.
  • Drop is over 3 areas – only Waimakariri showing an increase. We are still finding a reluctance from tenants to move out that direction due to travel constraints but with the opening of the new motorway bypass this is slowly changing. With a lot of new builds in Pegasus, Ravenswood and Rangiora this is not surprising. However, the same could be said about Selwyn. With significant growth in Rolleston and Lincoln yet that area shows a 29% drop in rental availability. Again, the new motorway has boosted interest in these areas. Christchurch has dropped 20%.

As at 19.7.21: By rent level:

  $0 – $200 $202 – $300 $301 – $400 $401 – $500 $501 – $600      
Christchurch 39 64 146 277 178      
Banks Peninsular 1 2 3 4 1   0 12
Selwyn 2 2 10 16 22   6 62
Waimakariri 0 1 5 12 13   0 35
  42 69 164 309 214   91 1043

As at September 2020: By rent level:

  $0 – $200 $201 – $300 $301 – $400 $401 – $500 $501 – $600      
Christchurch 62 114 298 368 169     1160
Banks Peninsular 1 0 5 3 3     14
Selwyn 2 2 11 38 26     87
Waimakariri 0 1 8 10 3     24
  65 117 322 419 201     1285
  • A significant drop in the number of properties available in the low to mid-ranges. Not surprising. Yes, the total number of properties available have also fallen but when you look closer at the listings there is an increase in newer properties which attract higher rents. There have been rent increases following on from healthy homes and driven by demand.
  • A significant increase at the high end. Matching the reasons above. At the very top end there may well be some owners expecting unrealistic rental returns. We have had success recently in letting high end property so there is still s demand albeit small.

As the number of available rentals fall, we notice an immediate drop in existing tenants looking at moving. This is good for both the tenants and the owners. Stable tenants are worth having and now with nearly all rentals meeting healthy homes standards we expect to see less inter-rental movement in the future.