Propertyscouts Dunedin

August Rental Market Update - 12th Aug 2010

August Rental Market Update Demand for Dunedin rental properties  at present could best be described as flat! If you have been unfortunate enough to have a rental become vacant over the winter months Propertyscouts advise looking for a tenancy agreement which will take you through to January or February and then renew for 12 month periods. The prime time for renting in Dunedin is January and early February and it’s at these times you will get the best rental yield.

We subscribe to Tony Alexanders weekly overview emails. He’s an economist with the BNZ. Interestingly this week he said that if he were a ‘borrower’ he would hop off the floating rate and get into a 2 or 3 year floating rate. He believes that eventually a large number of people may jump from floating to fixed and that could cause a spike upwards in the fixed rates.

There’s still no sign of property investors packing up and getting out of investment properties in their droves as some commentators predicted pre-budget. At the same time though their aren’t a lot reaching for their cheque books in order to add to their property portfolios. It seems to be a very much ‘wait and see’ game at present.

Two of our property owners have advised that they are wanting to sell their residential investment properties. Both are ‘good renters’. If you are in the market contact Jeanette for details. We have also been asked to find a further investment property for an overseas investor. They have a budget up to $500,000, residential or commercial, that is offering good yield (8%+) and capital gain potential. If you know of anything then once again please get in contact with Jeanette.

The first of the clothing flyers have arrived in the letterbox advertising summer clothing, a sure sign that better weather is just around the corner. For us that means more tenants on the lookout for good rentals – so if you know of any good rental properties looking for good tenants…then please get in touch.

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