Winter is letting us all know it is on the way to spend some time with us. However, the region’s high economic confidence levels and low unemployment rate provide a welcome warming factor. Our region’s appeal and demand for property has driven house prices upward sharply over the past year. This is making it very difficult for some home buyers and for tenants seeking suitable rental accommodation. 

A quick overview of the rental market provides the following ball park figures; median weekly rent for three bedroom house Tauranga $425, Mount $450, Papamoa $475.

Greatest tenant demand is in the sub $400 per week range, but biggest supply is in $500 plus per week range. Anecdotally there has been a 5-10% rent increase over the past 12 months.

Properties within the high volume $400k-$500k selling range, provide good investment opportunities given the high tenant demand. It is this which attracts investors from outside the region into our market, combined with having a stake in our market should they wish to reside here in the future.

EVES is ideally placed to work with home buyers, investors and tenants with market leading real estate and property management teams. Talk to EVES now, with more people selling more property.

Ross Stanway