Rental market for landed bungalows

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nof4
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Rental market for landed bungalows

Post by nof4 » Fri, 26 Jan 2018 2:06 am

Hi Guys

We are arriving in July18 and will be looking to rent a detached bungalow in the river valley.

Lot of the asking prices mention 'negotiable' . What is the current state of the rental market?

Many seem to be going 30% or more under asking.

Kind regards nof4.

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Max Headroom
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Re: Rental market for landed bungalows

Post by Max Headroom » Fri, 26 Jan 2018 8:08 am

The property market's fat years have well and truly transitioned into its lean years spell, with plenty of misery for owners yet to come, especially recent owners. Rentals have come down, but will come down a lot more.

It's a tenants' market

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PNGMK
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Re: Rental market for landed bungalows

Post by PNGMK » Fri, 26 Jan 2018 9:36 am

Definitely down. The landed bungalow market has had a double whammy where the SLA is restricting sales to only SC (previously PR and non SC had a chance for purchase approval but anecdotally no longer). SIBOR is ticking up so bungalow owners with a mortgage will be keen to get someone in.

You might want to ring Far East. They manage a fair number of bungalow groups around town (for example all the conservation ones along Towner Road area).
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nof4
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Re: Rental market for landed bungalows

Post by nof4 » Sat, 27 Jan 2018 7:33 pm

PNGMK wrote:Definitely down. The landed bungalow market has had a double whammy where the SLA is restricting sales to only SC (previously PR and non SC had a chance for purchase approval but anecdotally no longer). SIBOR is ticking up so bungalow owners with a mortgage will be keen to get someone in.

You might want to ring Far East. They manage a fair number of bungalow groups around town (for example all the conservation ones along Towner Road area).
Thanks PNGMK

Will negotiate hard. Lot of the property have sat on market for a year or more.

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