Rental Update June 2011
Geri Martin, Bayleys’ North Shore rental manager continues to field enquiry from people wishing to secure a rental property on the North Shore with the lower-mid priced properties most popular.
“In particular, the price bracket of $400-$700 per week is in hot demand. Well-presented family homes with three or four bedrooms are what people are after and, while the phones are a little quieter at the moment which is typical for winter, there are still people looking to move,” says Geri.
The rental market for top end homes is somewhat subdued at present - perhaps a reflection of more cautious economic times.
“I welcome enquiries from prospective tenants and landlords across all price brackets but particularly in the affordable range – and hopefully I can match-make and find a win-win solution for everyone.”
Geri can be contacted at Bayleys North Shore on 09 487 0734.
Nicky Lewis, principal of Quinovic North Harbour who works closely with Geri through a property management alliance with Bayleys North Shore says she’s noticed a slight pick-up in the rental market after a fairly ‘flat’ six weeks.
“The standard, good family three-four bedroom home is still in demand and renting well if it is priced appropriately. Affordable housing is being snapped up as people adjust their lifestyles and expectations and settle in for the winter,” says Nicky.
The top end of the market – that is, $1000 per week-plus homes – is still a little slow, although Nicky says they have rented a couple of properties in this bracket in recent weeks so perhaps this is a sign that this sector of the market is starting to move again.
Despite the lower interest rates and some other positive economic indicators, Nicky says she has not yet evidenced any pick up in the dedicated investor rental market, rather, she speaks of a increase in owners taking work contracts overseas and opting to rent their properties out.
