New Zealand rental statistics

good for you!!!

can you be bothered to share what those 20 q. are? be interested to know!

As for rental stats,
Tenancy services
http://www.minhousing.govt.nz/tenancy/index.html

is the site where you can find out what the current market rents are in each town or region.

As far as vacancy rates, just talk to a rental manager in the town not selling you the property. You can also say ‘I’m an investor from Australia and I’m interested in a property at 10 whatever street. How do you think this would go as a rental? they’ll tell you straight away what they think of the address. then you can get a rental assessment done. Also ask them how many properties they manage, and how many are vacant. Why the vacant ones are vacant. It might be that they are too scummy, or too ‘executive’. They may have a glut of (say) 2 bdr flats and a shortage of (say) 3 bedroom houses, or vice versa. Ask what it was like a year ago, two years ago – if it’s changed. if it’s easier or harder at the moment. What tenants like and want. (good heating? Close to town? Carpets?) These are all the kinds of things i ask them. just make some calls and ask them stuff.! The longer you can keep them chatting on the phone the more info you’ll get. Then repeat all the above with a different rental agent. If you do this for two major rental agents in each town you should get a good picture of the market.

cheers-
mini

Any aussie sites?

“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”

MiniMogul – re your advice on asking about vacancy rates etc – I had been keeping an eye out for suggestions on what to ask agents re this, so thanks very much – they’re excellent pointers…[specool]

hi maxsim and elbowgrease and everyone else, glad to help.
re Lomas questions, thanks for posting them,

“Mini, here are the key questions that Lomas advocates asking. Have you seen her books?”

no – should I?

“She has not got as many properties as Steve but she seems to have some good pointers:
What is vacancy rate?”

yep

Council improvements?
is there ageing population moving out?
any devs planned in the area with negative impacts?
any devs planned in the area with positive ?
Is Population Growing?
More jobs coming, positions vacant?

all these questions are fine and you can find out the information, but i don’t necesarily know if a rental manager would be able to give you accurate answers. unless you were chatting in a very general nature. ‘so what’s happening in the town? ‘

You probably should get the actual statistics, projections, economic profile, and the council plans for the area etc.

>Commercial property vacancies?
>Are people there buyers or renters?
>What is the competition for property?

yep i guess a rental manager could answer this

>Future DAs for same property?
say what?

>Is Property Tenant Friendly?
like how do you mean?
In good order?

>Condition of Property: ready to rent?
>Is there a body corporate?
>sinking fund?
>body corp search?

If you buy a house and it’s not ‘ready to rent’ it doesn’t necessarily mean it’s a bad investment, provided you can fix those problems. For example, you can pick up a dump cheaply and reno it cosmetically (even just using tradesmen not doing it yourself) and do really well.
Completely turn the place around, attract a better tenant, put rent up, etc.

>Proximity to large city? “
the great thing about NZ is that no small town in NZ is very far away from a large city, unlike Australia, and there is nowhere really which I would call ‘remote’ apart from if they’re a national park area i.e. ureweras, fjordland

gotta split –
cheers Mini