Post Covid-19

The market for rentals appears to be in catchup mode, with some regions having higher than normal listings. I am guessing that this may be due to delays in filling vacant rentals or delays in household formation, we will not know for at least one cycle, which in some regions is a couple of weeks, others a month.

This can be seen more easily in my annual chart for each major region, this shows Auckland is the driver behind increased listings. The green bar is where demand roughly equals supply, below the green, supply is short of demand. The increase in AirBnB listings must be considerable, I don’t collect Queenstown separately unfortunately. Even Wellington is showing the impact, but this supply may be also due to new apartment buildings coming on line recently.

Auckland is showing significant increase in inventory, in line with expected growth due to construction activity:

Check out the detail charts of your favourite region here. I also plot sales listings for Wellington, they show a broken trend that is about to catch up to normal

Jonette 2011