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Keep informed with PropertySage’s latest blog, offering landlords vital market updates, valuable insights, and expert advice to optimize rental properties and ensure a seamless, rewarding experience for tenants.
Trade Me Property reports an oversupply of rental properties, leading to a 36% increase in listings and a median rent decline to $630 per week. Landlords are advised to adjust rent expectations and enhance property appeal to attract tenants in this tenant-favorable market.
Tony Alexander discusses the Reserve Bank of New Zealand’s recent 0.5% cut to the Official Cash Rate, which has brought it down to 4.25%, while highlighting that the overall economic situation remains fragile with ongoing recessionary pressures and global trade challenges. Although there are signs of improvement in consumer sentiment and the real estate sector, the potential for significant reductions in mortgage rates—especially for longer terms—is limited due to persistent inflationary pressures abroad. Borrowers are advised to be cautious, as expectations for deeper interest rate cuts are fading.
