Earlier in the week I reviewed the number of rental properties marketed online for let in Invercargill with that number being circa 61. Our property management team considered this low level of availability remains well below appropriate stock levels to respond to current market demand. The other characteristic is property rents at / +$400 per week are challenge to connect with prospective tenants.
This STUFF news article overnight supports our understanding of the current market.
“The average rental price in Southland has hit a new record of $300 but the reality is people are paying closer to $400 a week.”
Read more: http://ow.ly/NaAo50u5B69