Harcourts Accommodation Centre Note Lack of Supply of Rental Properties in the City

Harcourts Accommodation Centre have noticed the numbers of rental properties available on Trademe are significantly lower than what they are used to seeing at this time of year. The number of available Christchurch rental properties has been down by as much as 400 homes in recent months, so what factors have contributed to this supply shortage and what does it mean for landlords and tenants? 

 

There are usually around 1200–1300 available houses to rent in Christchurch City, but this figure was down to around 860 properties throughout June and into July. Recent months have been a real pressure cooker for tenants looking to rent in Christchurch, with availability down and rental prices going north. 

 

With the effects of the COVID-19 pandemic still playing out globally, a high volume of expat New Zealanders have been moving back to Aotearoa to start a new life on home soil. This increases demand as the pool of renters grows. Similarly, the approach to the Healthy Homes Standards (HHS) deadline of 1 July 2021 deadline applied pressure to the number of rental properties available in Christchurch. 

 

Since 1 July 2021, private landlords have had to get their rental properties HHS-compliant within 90 days of a new or renewed tenancy, and inspection companies have reported low HHS pass rates in many regions. When coupled with slowed appliance and tradespeople supply has meant remedial work to meet HHS has been hindered, negatively impacting rental stock availability. 

 

As a family-owned and operated Christchurch property management company, Harcourts Accommodation Centre has been a provider of exceptional property management in Christchurch since 1990. Their talented and knowledgeable management team brings together 200 years' of industry experience - so no matter if you're a homeowner looking for rental property management services or a tenant looking for quality advice or your next rental home, their Property Managers are proactive and client-focused and strive to provide exceptional services for every client. 

 

An eye for detail, as well as having an in-depth knowledge of the property management industry processes and procedures is essential for every Christchurch Property Manager within the Property Management industry today so, with this in mind, please take a moment to find out more about rental property appraisals by visiting the website at www.assetmanager.harcourts.co.nz .