Property

Airbnb 'transition' to long term would hurt rental investors

Brent Melville
Wed, 08 Apr 2020

Property investors in the high growth centres of Queenstown, Gisborne and central Auckland will face short term pain as the rental market capitulates to covid-19 restrictions. In his latest market report, CoreLogic senior property economist Kelvin Davidson said the new-build market for flats and apartments in central Auckland, which had been dominated by investors, could now face falling rents, particularly as Airbnb properties transition into the long-term rental sector.He said the “comeback” of multiple property owners, which was driven...

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