Hamilton faces rental home crisis

residential rental property

Hamilton is facing a major residential rental property shortage, according to Lodge Real Estate managing director Jeremy O’Rourke.

“Hamilton’s rental supply is at a critically low level, and unfortunately there is little good news for those looking to rent in the near future. Currently we have less than 1 per cent vacancy. We are signing new lease agreements for our rental properties even before tenants move out.” Mr O’Rourke said the Reserve Bank’s Loan to Value (LVR) restrictions were the key factor behind the lack of supply and few new rentals becoming available in the near term.

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The author Paul