What’s going on with Hamilton Rents?
House price indexes are regularly in the news and there are many different providers offering their own data (and associated click bait headlines).
When we want to analyse rental trends we are blessed with the MBIE’s data from the Bond Centre. After a bit of internet sleuthing I was able to download Hamilton’s bond lodgement data going back to, wait for it, 1992! With that data you can quickly back out weekly rent for 1, 2, 3, or 4 bedroom homes in Hamilton.
Now I wasn’t so interested in what was going on with rents in the early 90’s but If you are advertising a property for rent or have a tenancy rolling over (as I do), then it’s a good idea to see what’s been going on with rents in your city since you last signed a tenant up.
The attached chart shows the increase in rents over the last 3 years, indexed in May 2018. We can clearly see a broad trend higher; 2, 3 and 4 bed homes rose in rent by between $77-100/week over the last 3 years.
The clear outlier is 1 bedders. They initially kept track with larger homes but were hard hit by Covid lockdown and border closures – being popular with overseas students and workers.
If you’d like to dig into the data to help make fair and transparent decisions when setting rent, then please get in contact via the button below.
We have all the data at our fingertips.