Here is your monthly property market report.
The regional data you’re signed up for is below.
But first, is the rental market turning?
After a few lacklustre years for landlords, I’m starting to see some encouraging signs in the rental market.
Walk back two years. Rental demand was going down. There were fewer people searching for properties to rent on sites like Trade Me.
At the same time, the number of new rental listings shot up.
So you had a tough situation for landlords: increasing supply, falling demand.
That’s why rents have been (largely) flat, and it’s taken longer to rent properties.
Now the data seems to be turning.
Here’s a screenshot from the back end of Trade Me.
Demand (rental searches) was up 5% in April compared to the same time last year.
And supply (new rental listings) was down 5%.