We strive to keep Wellington property owners up to date with the latest property information.
Here is another interesting Wellington real estate related news article that we thought may provide you with helpful information.
Have you considered Airbnb?
As the home of free property information, homes.co.nz provides estimates of market value (our HomesEstimates), rental value (our Rent Estimates) and much more. Now you can also find the Airbnb Estimate, a short-term rental estimate for your property powered by Airbnb.
This month we’ve looked at New Zealand’s top Airbnb towns to see what homeowners in these areas can expect to rent their home out for on Airbnb.
Unsurprisingly, the towns in NZ demanding the highest rates on Airbnb are the holiday hotspots Wanaka and Queenstown. The median Airbnb Estimate in these towns exceeds $6,000 per month*.
One surprising town on the list is Kaikoura where the median Airbnb Estimate is almost $5000. This, coupled with a median HomesEstimate of only $444k, results in a median short-term rental yield of 12.9%. One reason for this could be the high demand for short-term accommodation during the earthquake recovery work in the region.
Although 12.9% yields are nothing to scoff at, these don’t come close to Wairoa where, according to Airbnb, the short-term rental yield is the highest in the country. With the median HomesEstimate in Wairoa being only $152k and a median Airbnb Estimate of $2968, the yield is 22.7%. Although there is high seasonal demand for some on this list (Taumarunui during the ski season, for example), researching the yearly demand in these areas is a must before relying on Airbnb for rental returns.
Below are Featured Listings on homes.co.nz with the top 4 Airbnb Estimates:
Check out the Airbnb Estimate in your area and contact Airbnb to get started earning money as an Airbnb Host now.
*Airbnb’s estimates are for your reference only and they are based on the assumption of 15 nights booked per month along with other factors. They are not expressed or implied assurances, representations or warranties relating to actual income, revenues, profits or earnings.
Monthly HomesEstimate Property Update
The homes.co.nz Monthly Property Update is generated using homes.co.nz’s December 2019 HomesEstimates, providing an up-to-date perspective on house values around New Zealand.
Trends in our Main Cities
The median HomesEstimate in Christchurch has seen a slight increase this month to $445k in response to the new Capital Values being released. This is still below Dunedin where the median HomesEstimate is $452k, up 14.4% from this time last year.
In other areas, prices are increasing as summer sales activity picks up. The median HomesEstimate in Auckland is now back up over $900k for the first time since April. The median HomesEstimate has also increased in Tauranga and Hamilton to $626k and $585k, respectively.
NZ’s First Home Buyer HomesEstimate
The “First Home Buyer HomesEstimate” is homes.co.nz’s estimate of what a typical first home may cost. It is calculated to be the lower quartile HomesEstimate in a town.
How do we calculate these figures?
The homes.co.nz Monthly Property Update is generated using homes.co.nz’s monthly HomesEstimates and provides an up-to-date perspective on house values around New Zealand. By valuing the entire housing stock, the homes.co.nz Monthly Property Update can compare median values from month to month in a consistent and reliable way. Our HomesEstimates are calculated for almost every home in New Zealand by an algorithm that identifies the relationships between sales prices and the features of a property.
Established in 2013, homes.co.nz is NZ’s first free property information portal eager to share free property information to New Zealanders.
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Continue reading this article at the original source from Homes.co.nz
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