Dunedin Rental Market Update - July2024 (Most recent Tenancy Services data May 2024) Tenancy Services recorded a modest increase in the median weekly rent from $470 per week in May 2023, to $480 per week in May 2024. The number of bonds lodged decreased from 264 in May 2023 to 237 in May 2024, with the closed bonds decreasing by 15% for the same period.  The average number of rental listings available on TradeMe in May 2024 was 311, which is a 20% increase on the number of listings...

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Dunedin Rental Market Update - June 2024(Most recent Tenancy Services data April 2024) Tenancy Services recorded a 10% increase in the median weekly rent from $455 per week in April 2023, to $500 per week in April 2024. The number of bonds lodged increased from 255 in April 2023 to 282 in April 2024, with the closed bonds increasing by 10% for the same period.  The supply of properties marketed for rent has remained consistently high both locally and throughout New Zealand compared with...

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Dunedin Rental Market Update - May 2024(Most recent Tenancy Services data March 2024) Tenancy Services recorded a 2.8% increase in the median weekly rent from $450 per week in March 2023 to $463 per week in March 2024. The number of bonds lodged decreased from 348 in March 2023 to 318 in March 2024, with the closed bonds increasing by 12% for the same period.  Active bonds held for residential properties throughout New Zealand are continuing to reach record numbers, with Dunedin holding...

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Dunedin Rental Market Update - April 2024(Most recent Tenancy Services data February 2024) Tenancy Services has recorded a 2.2% increase in the median weekly rent from $450 per week in February 2023 to $460 per week in February 2024. The number of bonds lodged decreased from 495 in February 2023 to 489 in February 2024, with the closed bonds increasing slightly from 357 to 360 for the same period. February maintained overall steady enquiry before the lead up to the Easter break and first term...

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Dunedin Rental Market Update - March 2024(Most recent Tenancy Services data January 2024) Tenancy Services has recorded an increase in the median weekly rent from $630 per week in January 2023 to $680 per week in January 2024. The number of bonds lodged decreased from 2088 in January 2023 to 2028 in January 2024, with the closed bonds also decreasing slightly from 726 to 705 for the same period. January statistics are historically influenced by the student market and this decrease reflects a...

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Dunedin Rental Market Update - February 2024(Most recent Tenancy Services data December 2023) Tenancy Services has recorded an increase in the median weekly rent from $450 per week in December 2022 to $475 per week in December 2023. The number of bonds lodged has increased from 384 in December 2022 to 426 in December 2023, with the closed bonds also increasing slightly from 1707 to 1761 for the same period indicating movement between tenancies.  The average number of rental listings...

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Dunedin Rental Market Update - January 2024(Most recent Tenancy Services data November 2023) Tenancy Services has recorded an increase in the median weekly rent from $450 per week in November 2022 to $480 per week in November 2023. The number of bonds lodged has increased slightly, from 297 in November 2022 to 303 in November 2023, with the closed bonds also increasing slightly from 402 to 408 for the same period confirming movement between tenancies.  The average number of rental...

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Dunedin Rental Market Update - December 2023(Most recent Tenancy Services data October 2023) Tenancy Services has recorded an increase in the median weekly rent from $450 per week in October 2022 to $460 per week in October 2023. The number of bonds lodged has increased slightly, from 258 in October 2022 to 261 in October 2023, with the closed bonds increasing from 276 to 303 for the same period indicating movement between tenancies.  The average number of rental listings available on...

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Dunedin Rental Market Update - November 2023(Most recent Tenancy Services data September 2023) Tenancy Services has recorded an increase in the median weekly rent from $458 per week in September 2022 to $475 per week in September 2023. The number of bonds lodged has increased slightly, from 252 in September 2022 to 270 in September 2023, with the closed bonds also decreasing from 270 to 237 for the same period. The average number of rental listings available on TradeMe in September 2023 was...

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Dunedin Rental Market Update - October 2023 (Most recent Tenancy Services data August 2023) Tenancy Services has recorded an increase in the median weekly rent from $410 in August 2022 to $440 in August 2023. The number of bonds lodged has slightly decreased from 279 in July 2022 to 270 in July 2023, with the closed bonds also decreasing from 270 to 237 for the same period. The average number of rental listings available on TradeMe in August 2023 was 365, 10% less than August 2022. We have...

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Dunedin Rental Market Update - September 2023 (Most recent Tenancy Services data July 2023) Tenancy Services has recorded an increase in the median weekly rent from $410 in July 2022 to $450 in July 2023, continuing the overall trend for this year.  The number of bonds lodged has slightly decreased from 279 in July 2022 to 270 in July 2023, with the closed bonds also decreasing from 270 to 237 for the same period. The average number of rental listings available on TradeMe in July 2023...

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Dunedin Rental Market Update - August 2023 (Most recent Tenancy Services data June 2023) Tenancy Services has recorded an increase in the median weekly rent from $450 in June 2022 to $460 in June 2023, continuing the overall trend for this year.  The number of bonds lodged has increased from 258 in June 2022 to 294 in June 2023, with the closed bonds also increasing from 243 to 279 for the same period. The average number of rental listings available on TradeMe in June 2023 was 289, 49 of...

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Dunedin Rental Market Update - July 2023 (Most recent Tenancy Services data May 2023) Tenancy Services has recorded a yearly increase in the median weekly rent from $420 in May 2022 to $470 in May 2023, continuing the trend of the past three months. The number of bonds lodged decreased from 282 in May 2022 to 264 in May 2023,  with the closed bonds also decreasing from 237 to 222 for the same period. The average number of rental listings available on TradeMe in June 2023 was 289, 49 of...

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Dunedin Rental Market Update - June 2023 (Most recent Tenancy Services data April 2023) Tenancy Services recorded a yearly increase in the median weekly rent from $433 in April 2022 to $455 in April 2023 which is aligned with the last three months. The number of bonds lodged in April decreased from 270 in 2022 to 255 in 2023, compared with the closed bonds which have increased from 219 in 2022 to 234 in 2023. The average number of rental listings available on TradeMe in May 2023 was 267. We...

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Dunedin Rental Market Update - May 2023 (Most recent Tenancy Services data March 2023) April was a relatively quiet month, in terms of enquiry, due to the limited number of properties coming to the market to let. This is a trend which has been experienced in previous years, mainly due to the following contributing factors:  - Easter break, Anzac Day observed within the same month  - School holidays influencing availability for prospective tenants to attend viewings  - Less...

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Dunedin Rental Market Update - April 2023 (Most recent Tenancy Services data Feb 2023) Overall, there has been continued positive movement across the rental market in Dunedin during March 2023.  Tenancy Services recorded a yearly increase in the median weekly rent from $428 in February 2022 to $450 in February 2023. This increase was expected, given the continuing pressure on supply and increasing asking prices on advertised property as a result. The number of bonds lodged in February...

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The Dunedin rental market saw an increase in median weekly rent year on year from $450 in January 2022 to $630 in January 2023. The number of bonds lodged in January decreased from 771 in 2022 to 726, aligned with the trend of tenants extending their leases under the periodic tenancy arrangement until new accommodation had been secured. This in part provides context as to why in March student accommodation for 2023 is being actively advertised for rent.  The average number of rental...

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The Dunedin rental market saw no change in median weekly rent year on year, with the December 2022 median at $450. The number of bonds lodged in December decreased from 480 in 2021 to 384, likely, in part, because of the increasing number of tenants taking advantage of the amendment to the tenancy laws allowing fixed term tenancies to roll over to periodic tenancies. The average number of rental listings available on TradeMe as of writing this report is 314 which is up from this time in...

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Nidd Property Management Commentary - January 2023 (December 2022 stats & internal tracking). Happy New Year for 2023 from the team at Nidd Property Management.  Our team have managed to successfully navigate the changeover in tenancies from mid-December 2022 until mid-January 2023 which is typically a busy period for our industry (in Dunedin). We were able to prove that the change in legislation which influenced when (student) properties could be advertised, did not have an impact...

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For the month of November 2022 our team maintained a 98.9% occupancy rate within the portfolio, which is an outstanding achievement for this time of the year validating figures recorded for the number of properties rented and tenancies renewed. We are working with an increased number of clients moving to Dunedin for work opportunities highlighting from around New Zealand and different parts of the world further validating growth and a positive change in the market. We rented 13 properties...

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For the month of October 2022 our team maintained a 98.6% occupancy rate within the portfolio, with demand being directed towards 3 bedroom properties and student accommodation available in the new year. We rented 16 properties within an average of 20 days at an average price of $530 per week with the range being between $395 - $980 per week. This is in contrast to October 2021 which recorded 14 properties rented within an average of 44 days at an average of $490 per week, with the range...

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To summarise the third quarter of 2022 in one word would be: ACCEPTANCE. Nidd Property Management successfully managed expectations aligned with the change in legislation applied to tenancy renewals and timeframes associated. This was of significant importance when applied to student flats and when they can be actively marketed for 2023 tenancies. Renting a total of 25 properties within 20 days at an average of $440 per week, with one Tribunal. For the month of September 2022 our team rented...

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For the month of August 2022 our team rented 9 properties within an average of 30 days at an average price of $490 per week, with the range being between $310 - $675 per week. This is closely aligned to results in August 2021 which recorded 10 properties rented within an average of 28 days at an average of $520 per week, with the range being between $390 - $925 per week.  The upper price range recorded for August 2021 reflects “student targeted rental properties” being rented...

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For the month of July 2022 our team has continued to maintain a 1.5% vacancy rate within the portfolio, with demand continuing to be focused on 2 and 3 bedroom properties. We rented 6 properties within an average of 21 days at an average price of $460 per week with the range being between $350 - $620 per week. This is in contrast to July 2021 which recorded 9 properties rented within an average of 39 days at an average of $430 per week, with the range being between $190 - $570 per week. There...

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To summarise the second quarter of 2022 in one word would be: STABILITIY  Nidd Property Management maintained expectations during a period of time that experienced several short work weeks so that Anzac Day, Queens Birthday and Matariki could be spent with family away from the office. Renting a total of 22 properties within an average of 15 days at an average of $450 per week, with zero Tribunals.  For the month of June 2022 our team has maintained a 1.7% vacancy rate within the...

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For the month of May 2022 our team has maintained a 0.9% vacancy rate within the portfolio, with demand continuing to be focused on 2 and 3 bedroom properties. We rented 7 properties within an average of 18 days at an average price of $430 per week with the range being between $170 - $650 per week. This price bracket is reflective of there being demand for different property types, ranging from boarding house rooms to high end apartments. There has been an average of 212 properties listed on...

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For the month of April 2022 our team has continued to maintain a 1.5% vacancy rate within the portfolio, with demand continuing to be focused on 2 and 3 bedroom properties. We rented 6 properties within an average of 14 days at an average price of $510 per week with the range being between $450 - $550 per week. This range is reflective of the standard of property being offered to the rental market and there being demand from tenants moving to Dunedin from other parts of the world. There has...

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To summarise the first quarter of 2022 in one word would be: PERSERVERANCE. Nidd Property Management successfully managed expectations and navigated many of the disruptive changes linked to COVID-19 and preventing the spread of the virus within our community. Renting a total of 25 properties within 22 days at an average of $460 per week, with zero Tribunals.  For the month of March 2022 our team maintained a 1.5% vacancy rate within the portfolio, with the demand continuing to be focused...

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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...

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For month of January 2022 our team maintained a 0.9% vacancy rate within the portfolio, advertising on average 5 properties at any one time, with the demand being focused on 3-bedroom properties. We rented 6 properties within an average of 23 days at an average price of $400 per week. There has been an average of 298 properties listed on TradeMe for the month of January 2022 which is 15% less than that in January 2021. We are continuing to receive an increased level of enquiry from first time...

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Happy New Year for 2022 from the team at Nidd Property Management. A strong finish for the month of December 2021, our team rented 20 properties within an average of 24 days at an average of $485 per week.  For the month of December 2021, there was continued high demand for three-bedroom homes.  There has been a weekly average of 368 properties listed on Trademe for December showing a 5% decrease in available rental accommodation.  The team signed 16% more tenancies in 2021...

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For the month of November 2021, our team rented 23 properties within an average of 23 days at an average of $425 per week showing an increase in properties rented by a decrease in price. Of the 23 properties rented 30 percent were clients that have moved to Dunedin from other regions indicating continued growth within other sectors for specialist roles. There has been an average of 387 properties listed on TradeMe for the month of December which is a 6% decrease from the last months.  

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For the month of October 2021, our team rented 14 properties within an average of 44 days at an average of $490 per week, which is proving to be a general trend for the month of October, as seen in 2020 where 14 properties were rented at an average of $430 per week. Enquiry has increased with people relocating to Dunedin aligned with the changes in COVID-19 level restrictions. There has been an average of 415 properties listed on TradeMe for the month of October which is 5% less than the...

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For the month of September 2021, our team rented 10 properties within an average of 29 days at an average of $400 per week showing a decline from the month prior.  There has been stable demand for 3 bedroom rental accommodation between the range of $380-$430 per week There has been an average of 438 properties listed on TradeMe for the month of September which was the same for the month before showing stable supply of properties.  Don't hesitate to get in touch if you are thinking...

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Following on from the Level 4 lockdown mid-August, the market now appears to be stabilising back to the level of enquiry that we would expect for this time of the year. For the month of August 2021, our team rented 10 properties within an average of 21 days at an average of $537 per week compared to the usual trend of 22 properties rented in August 2020 at an average of $546 per week and 15 days to rent.  Please note that in 2019 with 25 properties rented and 2018 with 26 properties...

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For the month of July 2021, our team rented 9 properties within an average of 39 days at an average of $430 per week compared to July 2020 which showed an average of $415 per week and 24 days to rent. There has been an average of 513 properties listed on TradeMe for the month of July. Our team started to advertise student properties with a positive response from those seeking accommodation for 2022. If you know of anyone thinking of renting their investment property please feel free to pass...

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For the month of June 2021, our team rented 10 properties within an average of 28 days at an average of $518 per week compared to June 2020 which showed an average of $480 per week and 39 days to rent. There has been an average of 496 properties listed on TradeMe for the month of June, with more student properties (for 2022) being advertised. If you know of anyone thinking of renting their investment property please feel free to pass on our details as this will result in you receiving 3...

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For the month of May 2021, our team rented 6 properties within an average of 32 days at an average of $430 per week highlighting the lower levels of demand for rental properties at this time of the year.  There has been an average of 318 properties listed on TradeMe for the month of May, with many student properties (for 2022) expected to be advertised during June. If you know of anyone else thinking of renting their investment property or looking at possible renting options, please feel...

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For the month of April 2021, our team rented 9 properties within an average of 27 days at an average of $550 per week. It was observed that levels of enquiry have remained quieter during the Easter Break, ANZAC, and school holidays. This is a trend identified in previous years. There has been an average of 302 properties listed on TradeMe for the month of April which is which is again 25% more than April 2020 during COVID-19. If you know of anyone else thinking of renting their investment...

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For the month of March 2021, our team rented 8 properties within an average of 44 days at an average of $530 per week. It was observed that levels of enquiry were quieter during the week leading up and after Easter which is a trend identified in previous years. There has been an average of 283 properties listed on TradeMe for the month of March which is which is 25% more than 2020 during COVID-19. If you know of anyone else thinking of renting their investment property or looking at possible...

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Dunedin has experienced continued demand for quality rental accommodation for the month of February. We have rented 14 properties within an average of 24 days. There has been an average of 320 properties listed on TradeMe for the month of February which is about the same for February 2020. If you know of anyone else thinking of renting their investment property or looking at possible renting options, please feel free to pass on our details. Don't hesitate to get in touch if you are thinking...

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Dunedin has experienced continued demand for quality rental accommodation for the month of January. We have rented 9 properties within an average of 12 days. There has been an average of 341 properties listed on TradeMe for the month of January which is 10% higher than that in January 2020. An interesting trend that has emerged this past 2 weeks is the high level of enquiry from 18 years olds urgently needing accommodation.  It has been suggested that some first year students have only...

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Happy New Year for 2021 from the team at Nidd Property Management. A strong finish for the month of December 2020, our team rented 16 properties within an average of 25 days at an average of $430 per week.  For the month of December 2020, there was high demand for three-bedroom homes.  There has been a weekly average of 375 properties listed on Trademe for December showing an 8% decrease in available rental accommodation. This is still a 22% increase than that recorded in December...

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For the month of November 2020, our team rented 16 properties within an average of 26 days at an average of $395 per week.  There has been a weekly average of 407 properties listed on Trademe for November showing a decrease in available rental accommodation. This is still higher than that recorded in November 2019 which showed a weekly average on TradeMe of 325. The team will still be available during the festive season, so please do not hesitate to make contact regarding your investment...

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For the month of October 2020, our team rented 14 properties within an average of 28 days at an average of $430 per week.  There is still high demand for three-bedroom residential properties across many suburbs in Dunedin, so if you know of anyone with a rental property seeking management services do not hesitate to pass on our details. There has been a weekly average of 392 properties listed on Trademe for October showing a decrease in available rental accommodation. This is still...

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For the month of September 2020, our team rented 20 properties within an average of 19 days at an average of $442 per week.  We have seen continued demand for three-bedroom residential properties across many suburbs in Dunedin. There has been a weekly average of 417 properties listed on Trademe for September showing a decrease in available rental accommodation. This is still higher than that recorded in September 2019 which showed a weekly average on TradeMe of 348.  

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August proved to be another busy month with our team, renting 22 properties within an average of 15 days at an average of $546 per week. The average price per week is 25% higher than July due to 11 of the rented properties being student flats. There has been an average of 492 properties listed on Trademe for the month of August 2020 showing a continued increase in available rental accommodation, with more being listed within the residential area. This is in comparison to the August 2019...

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For the month of July 2020, our team rented 22 properties within an average of 24 days at an average of $415 per week. This is a 100% increase in properties rented compared to the month of June 2020 and significantly higher than July 2019 where only 8 properties were rented. There has been an average of 561 properties listed on Trademe for the month of July 2020 showing a continued increase in available rental accommodation, particularly in the student market. We do note that there was an...

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For the month of July 2020, our team rented 22 properties within an average of 24 days at an average of $415 per week. This is a 100% increase in properties rented compared to the month of June 2020 and significantly higher than July 2019 where only 8 properties were rented. There has been an average of 561 properties listed on Trademe for the month of July 2020 showing a continued increase in available rental accommodation, particularly in the student market. We do note that there was an...

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