It has been a fascinating rental month. The first half of June felt very quiet, and we were all preparing for the usual winter slowdown. Then, quite suddenly, the second half of the month felt completely different.
Viewing enquiries increased significantly, and the number of applicants booking viewings also rose. As a result, we rented nearly twice as many properties in the second half of June compared to the first half.
One factor was that university exams were running until 19 June, meaning many students were focused on their studies before making plans to move. We also noticed a higher number of enquiries from overseas during the second half of the month. Many of these enquiries came from parents requesting video viewings for their children, as well as young professionals arranging video calls before relocating to Auckland.
That said, rental supply continues to increase. As at the end of June, the number of available rental listings had risen to approximately 690 properties, indicating that tenants have more choice in the current market.
Our dedicated leasing specialists continue to conduct viewings at least 3 times per week to maximise exposure for your property. We have also introduced letting tours, allowing prospective tenants to view multiple suitable properties within their budget and preferences during a single appointment. For applicants who miss out on a property, we proactively introduce them to similar options within our portfolio, helping us retain quality tenants and improve occupancy across all listings.
In summary, we are adapting to a softer market by being proactive and efficient in securing quality tenants.
On a separate and positive note, 2 buildings have finally reached completion following extensive improvement and remediation works — Connaught and Uptown. We are delighted to welcome these owners back after nearly three years of construction-related disruption.
We are especially grateful that many owners remembered the level of service we provided before the works commenced and have chosen to continue their management with us. Thank you for entrusting us with your newly completed apartments. It has certainly been a challenging few years, and we appreciate the confidence you have placed in our team throughout that journey.