Christchurch landlords lower rents due to ‘oversupply’ of properties

Christchurch landlords are being encouraged to lower rents and offer incentives to secure tenants as properties sit empty for up to a month. The city is facing an oversupply of rentals as earthquake-damaged houses are repaired, new houses are built, and more as-is, where-is properties are listed as rentals. Ray White Shelleys Property Management director Shelley Scott said she had to teach several property owners about realistic weekly rents over the last year. “When we go to re-let the property we find we often have to make adjustments.” She recently dropped the rent of a new listing in New Brighton from $350 to $320 a week. “I’ve got some properties sitting for a

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Who’s the winner?

  Hamilton Catches Up with Auckland Area’s property growth rateHamilton house prices have risen faster than Auckland Market since January this year. According to Stuff.co.nz, the price has been slow down for a short period during this year then it starts to head up again. As Hamilton is the most populous city of the Waikato region, it becomes a hot area for investors. With only one hour and half drive from Auckland, it also becomes a good choice for first home buyer to live.   According to the Statistics provided by QV, the growing rate of property market in Hamilton

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