Tenants compete for quality properties
The Dominion Post reported yesterday that Wellington tenants were opting for higher quality, more expensive rentals, which meant landlords with properties at the bottom end of the market had to reduce their rents in order to let them.
There had been a 10% drop in rents across cheaper suburbs such as Eastbourne, Pinehaven, Waiwhetu South, Totara Park and Gracefield.
But in more expensive areas, tenants were competing for properties.
Quinovic Hutt Valley principal Tom Finlay the standard that tenants expected in a house had risen in recent years. Tolerance of chilly homes and damp conditions deteriorated significantly after the Warm Up New Zealand scheme started a push for more insulation in homes.
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