Published on: 2014-11-18
Hamilton Rental Review
General Manager of Lodge Rentals, David Kneebone, is concerned the city may not have enough properties to rent during the busy February period.
Generally October and November experiences an annual student exodus from rental accommodation (and the university year ends.)
However, more properties than expected have been secured already for 2015 by returning students. This has raised fears that there may be a lack of good-quality, available accommodation next year.
“That's perhaps good news for investors, because based on this rents are likely to continue to rise” Mr Kneebone said.
However, a casual drive through Hillcrest shows up a number of new building projects, which may help ease pressure as the projects will get finalised before the student year begins.
Mr Kneebone points out that the pressure for rental accommodation is not just restricted to the student market.
Rental properties in the popular north-east have become increasing hard to find, and significant rent increases over recent months show no signs of abating, with demand still strong.
Families attracted by the benefits of modern construction, together with the appeal of better infrastructure in the area, are drawn to renting in the area.
This has placed increasing pressure on rents.