REINZ residential rental statistics launched

By Andrea Milner

“The addresses are identified, instead of a general location, which has never been the case before – that’s the difference,” says property manager Richard Evans of Rotorua Rentals who chairs the REINZ property management special interest group.

The statistics were launched at the recent REINZ property managers’ conference, attended by about 300 industry members from around the country. Attendees heard that the upsurge in residential property investment and the parallel surge in house prices has seen many investors and their advisors struggling to determine fair market value for rental homes, because areas are too vaguely defined in currently available statistics derived from bond lodgements.

The current system, says Evans, has limited value, as the areas are too vague and general in nature to be accurate enough for informed decisions to be made or opinions offered.