Region's renters in box seat on big homes

Wairarapa renters have been flooded with accommodation options, the latest Trade Me figures reveal.

However, a local housing officer says only those seeking larger properties are spoilt for choice, with many prospective tenants being forced on to waiting lists for smaller, one-bedroom properties.

Between January and March, the number of Trade Me listings for rentable houses and apartments was nearly 30 per cent higher than during the same period last year, the website's quarterly property analysis found.

Currently, about 100 local rental properties are listed on the site.

Trust House housing operations manager Andrew Whitehead said there was an over-supply in larger rental properties.

"What we have trouble meeting demand on is the one-bedroom homes."

High interest in "cheap one-bedroom homes" had resulted in prospective tenants often being wait-listed, Mr Whitehead said.

Alternatively, some had chosen to move into two-bedroom homes and pay more rent, he said.

But those seeking two and three-bedroom properties were in a much better situation.

"The ball's in their court about which one they choose to rent, whether it be through us, or through a real estate agent," Mr Whitehead said.

Meanwhile, though the number of listed properties has shot up, Wairarapa rents have remained stagnant, with no quarterly year-on-year change in average asking rents, the figures show.

Interest from prospective tenants was up 3 per cent since last year, according to the number of email inquiries into the website.

Nationally, the average asking rent in the three months to March was 3 per cent higher than for the same period last year, despite weaker market interest and higher numbers of available rentals.

Brendon Skipper, head of property at Trade Me, said investors returning to the market had contributed to the increase in rental properties, which was up 5 per cent compared to last year.

Low interest rates and a buoyant sales market had helped lure investor buyers back, he said. "Tenants have more choice, but landlords with well presented and realistically priced rentals won't have problems tenanting their properties."