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18

March

2014

Christchurch Rental Situation Is Looking Up

Just in time for the first glorious winter days in Christchurch, things are looking up on the rental market. It’s not rental wonderland just yet, but there is definitely much more property for rent available. Listings on TradeMe are up to their high 700s.

At Bayleys Property Management we’ve had a closer look at the figures to give you a bit of an overview of what’s out there.

  • About 7% of Christchurch properties for rent are 1-bedroom properties.
  • About 28% of available rentals are 2-bedroom properties, 1/3 of which are unfurnished.
  • About 25% of Christchurch rentals are 3- to 4-bedroom homes priced $400 to $600 per week.
  • About 15% of property for rent is listed at above $600 per week.
  • About 5% of available rentals are priced above $800 per week.

This shows that it may still be difficult to find an unfurnished 2-bedroom property or a cost-effective 3- to 4-bedroom home. Therefore, it might be worth widening your options by considering furnished properties. While more than $600 per week is a lot to pay in rent for families, these properties might well be an option for a business or working groups. Some more expensive rental properties could also be an option for two professional couples, sharing the rent.

Or have you thought about surrounding regions such as Selwyn, Ashburton, Waikmakariri or Banks Peninsula? It may be a little (yet scenic!) drive into the city but on the other hand you’ll reap many benefits, ranging from lower rental prices to a great lifestyle. Even if it’s not for the long run, if you consider areas outside of the immediate Christchurch City, you have another 100+ rental properties to choose from straight away. And what’s more, just as Winter hits, you could be that much closer to the ski fields!

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