by
April 19, 2022
Ouch Ouch Ouch.... I think we can safely say there has never been more properties available to rent in Auckland. Certainly since our records began 8 years ago!
A week ago we broke over 6000 properties available for the first time ever. This week there are 6012 available for rent!
This has happened quite suddenly. As recently as January the number of 3 bd properties were about the same as 2 years ago. Now, only 3 months later there are 49% more 3 bd’s available than 2 years ago (which was at normal historic levels). So now the 3 bd’s have moved up to the vacancy levels that 1 & 2 bd’s have been at for the past 2 years since the pandemic started. As you can see in the chart both 3 and 4 bd’s are at new record levels of availability.
Why? Well pure speculation, but probably Omicron has the most to do with it. People were staying put and not shifting. What is really odd (as well) is that rents have remained firm for most areas.We have been feeling it as well, with some of our properties going many weeks without a bite from prospective tenants.
