Wellington Propertyscouts

Amateur property investment is 'going to disappear'. That could be a good thing   - 6th Nov 2017

Amateur property investment is 'going to disappear'. That could be a good thing   A recent article about the state of the Wellington rental market estimates that up to 20% of the Wellington rental stock could be lost as landlords fearful of the new Rental Warrant of Fitness and Healthy Homes Bill sell up. This is the opinion of Bayleys Real Estate Wellington regional manager Grant Henderson. Richard Bacon of the Wellington Property Investor’s Association added that about 85 per cent of rental investors in Wellington owned fewer than three properties and they would be hardest hit by new regulations. Bacon says that these landlords will either put rents up or sell their house. This rings true as Propertyscouts Wellington has noticed a significant increase in displaced Wellington tenants urgently looking for new accommodation because their landlord has sold the property, not to another investor but usually to a buyer looking to reside at the property.
For full article: https://www.stuff.co.nz/national/98584652/amateur-property-investment-is-going-to-disappear-but-could-be-a-good-thing-say-experts
 

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