Published on: 2012-08-13

Hamilton Residental Rentals Update

Occupancy rates have remained steady at 98% across the portfolio. As expected winter has brought the seasonal slowdown in demand for rental properties. However, there is a shortage of available properties in the Rototuna , St Andrews and Pukete markets. There is also increased demand for top end property. Rents in Hamilton traditionally hit a ceiling at $500 per week. However, within the last week a Queens Ave property has been re-rented for $700 per week, and a St Andrews property for $650 per week.

Tenants have become more selective with their choice of rental property. There is widespread understanding of the importance of insulation and heating for maintaining a healthy home. This is one of the primary questions asked of property managers when showing an empty property. Whilst we have encouraged all landlords to take advantage of the Governments insulation and heating scheme it is interesting to note that around 426,000 rental houses in New Zealand still remain inadequately insulated and poorly heated.

Properties that have been modernised and are warm and well maintained are being snapped up very quickly.