Rental Property In Christchurch, Demand Likely To Increase
The recent 7.1 magnitude earthquake is likely to increase demand for rental accommodation in Christchurch
. Even if people's houses haven't been condemned, they may need to move out of their home temporarily while it is being either repaired or rebuilt.
While many displaced Christchurch residents have been staying temporarily with family and friends after the recent earthquake, real estate insiders are picking there will be a strain on rental accommodation in Christchurch as those affected seek to regain some normality in their day to day lives.
The impact of finding temporary accommodation in Christchurch is likely to be felt greatly by families especially those with pets - particularly dogs. Many landlords place restrictions on allowing animals in their rental properties, if they cannot find "Pet Friendly" accommodation, displaced Christchurch residents may need to arrange boarding for their animals. Many rentals in Christchurch are 2 bedroom units, bigger houses suitable for families are likely to be in higher demand than usual as families who have been forced out of their own homes look to maintain their lifestyle.
Although most Christchurch home owners will have insurance cover (especially those who have a mortgage), it may take quite some time for their properties to be restored to their former state, due to the sheer number of claims. Civil defence is developing an action plan to get welfare centre tenants back into their homes or longer term accommodation.