While tenants in some parts of NZ scramble for housing, landlords in Christchurch have lowered rents as the city is saturated with rental properties.
• Christchurch landlords are being encouraged to lower rents & offer incentives to secure tenants as properties sit empty for up to a month.
• The city faces an oversupply of rentals as earthquake-damaged houses are repaired, new houses are built, & more as-is, where-is properties are listed as rentals.
• As of Thursday, there were over 1800 properties advertised on Trade Me as available to rent in Christchurch.
• Landlords have been offering one week’s free rent & other endorsements just to secure tenants.
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