Many people are choosing to rent out their homes as they leave the Manawatu, and the capital gains of up to $1000 per week are definitely working well in their favour.
Why sell a house when it is appreciating in value in such a fashion? Every week I am helping Manawatu people who are moving through company transfers, military postings or heading off on overseas travels.
Did you know from September 2018 to September 2019 the Manawatu/Whanganui median house price rose 24.1%? That is, for every $100,000 of value of the median house price – it increased by $24,100! This is equivalent of the median home going up by almost $500 per week. The market is indicating that significant growth will continue for the foreseeable future as many people move to our area for lifestyle and affordability reasons.
There are also some large movements of staff and personnel into the region with relocation from Whenuapai to Ohakea of around 300 personnel and the creation of the rail hub near Bunnythorpe to add close to 300 jobs, just to name two developments!
This makes it a tough choice to exit the market in Manawatu by selling a home. Did you know that a rental appraisal on your current home can be enough to purchase a property at your new destination without needing to sell your
Manawatu property? Alternatively, the rent you can receive on your home may well pay most or all the rent of a home at your destination. Even if it doesn’t, the capital gains will make up for it.
Military personnel who are transferring and have the ability to live on base are getting great advantages from keeping their Manawatu properties and having them looked after.
A common fear is that tenants may ‘trash the house’, although if your home is of a nice standard the risk is massively reduced. The advent of very low-cost insurance now protects owners from the risks that tenants can create (e.g. rent stopping unexpectedly or intentional damage).
Why not contact us to investigate the best options for your move in 2020? We can also give thoughts on the market value for sale, so you can have all the information to make a great decision for your future. Our advice is free – so
please get in touch – we are here to help you.
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Palmerston North Median Rental Prices: January 2020 - June 2020 Feilding Real Estate Market Snapshot - June 2020 Palmerston North Real Estate Market Snapshot - June 2020 New Market Report, get updated suburb information! Manawatu market still strong Feilding Real Estate Market Snapshot - May 2020 Palmerston North Real Estate Market Snapshot - May 2020 Palmerston North Median Rental Prices: December 2019 - May 2020 New Suburb Market Reports Feilding Real Estate Market Snapshot - April 2020 Palmerston North Real Estate Market Snapshot - April 2020 Palmerston North Median Rental Prices: November 2019 - April 2020 Covid-19 Level 2 Feilding Real Estate Market Snapshot - March 2020 Palmerston North Real Estate Market Snapshot - March 2020 Palmerston North Median Rental Prices: October 2019 - March 2020 Real Estate Market During Lockdown FREQUENTLY ASKED COVID-19 Questions (NZPIF) COvid 19 Level 4 Updates Handy resources for you to help with Covid-19