Wanganui is experiencing increased demand for rental properties as fewer people look to buy their own home, a local property agent says.
Rents are also higher, though the increase is below the national average.
Just-released figures show demand for Wanganui rental properties grew by 4 per cent on Trade Me in the October-December quarter, while the average rent increased by 2 per cent to $211.
Available properties also grew by 13 per cent to 737 listings.
LJ Hooker Wanganui real estate agent Steven Ellis said the company's vacancy rate had recently dropped from 12 per cent to about 8 per cent. "I think a lot of people aren't buying houses and they're lacking confidence, especially in the Wanganui market."
