As the country navigates changes with Phase 3 of the COVID-19 (Omicron) response, Nidd Property Management have ensured robust systems and protocols have been implemented to ensure properties continue to be rented. While enquiry generated continues, alongside scheduled viewings, it has been observed to be less than previous weeks and months.
For the month of February 2022 our team maintained a 1.5% vacancy rate within the portfolio, with the demand continuing to be focused on 3-bedroom properties. We rented 10 properties within an average of 17 days at an average price of $425 per week with the range being between $155 - $750 per week.
There has been an average of 261 properties listed on TradeMe for the month of February 2022 which is 20% less than that in February 2021 but aligned with the number of listings in 2020. This is proving to be a trend with listings for 2022.