Christchurch rental market turns to favour tenants

Things are looking up for Christchurch tenants, with rents beginning to fall and more homes available. Rental agencies say tenants are able to be more choosy and landlords in some cases are dropping rents. The city’s average rent of $408 is down from $430 at the start of the year and back at late 2013 levels, according to the latest bond figures from the Ministry of Building Innovation and Employment.  The number of Christchurch rental homes listed on TradeMe has jumped from 600 to 1550 in a year. Bernice Ireland, head of Quality Property Management, said tenants had a choice

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Purchasing property in current market conditions, is it better to wait?

Purchasing property in current market conditions, is it better to wait? Recent research conducted by Goldman Sachs indicated that there is a 40% chance of the NZ housing market going bust. Further insights concluded that NZ’s housing market is over-valued the most amongst the G-10 economies. A housing bust can be described as house prices declining by 5% or more and is calculated through ratio calculations relative to house prices to rents, annual household incomes, and inflation impacting house prices. In Auckland alone, the average house price has increased 91% since 2007. With these escalating figures, the amount of people

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