Time To Score During The World Cup
Now would be the perfect time to get started in the short-term rental market as FIFA frenzy builds, writes Stefan Nikolic.
28 June 2023
The FIFA World Cup is one of the major events in global sports and it’s being hosted in New Zealand and Australia this year.
The first match, held in Auckland (Eden Park), will be on July 20, kicking off with New Zealand vs Norway. The final will be held in Auckland on August 15 (the World Cup final will be held in Sydney on August 20).
This gives Auckland almost a full month of World Cup frenzy that will attract visitors to the city from all parts of the world. The other New Zealand cities hosting some of the games are Wellington, Dunedin and Hamilton, but over shorter periods than in Auckland.
High demand can already be seen for these dates and our managed properties are sitting at around 25 per cent occupancy. This shows bookings are coming in advance as the average lead time for bookings at the moment is only about a month.
Nightly rates for July and August are currently at $278, which is higher than some figures achieved during last summer’s high season.
Now would be the perfect time to get started in the short-term rental market as there is still plenty of time to build up reviews before the World Cup, meaning your property can achieve extremely high nightly rates during the event.
Prices will keep increasing as we move closer to the Cup as available accommodation becomes scarcer. Having excellent reviews on your listing will make it stand out against the competition online.
More broadly, the World Cup event is coming during what is generally a low season in Auckland; we don’t usually experience very high nightly rates during winter.
The timing this year is perfect as it means the seasonality effect we usually experience will be less pronounced and we will basically avoid a full-blown low season altogether.
If you want to capitalise on the upcoming opportunity the short-term rental market has to offer, but don’t have the time to do the work yourself, please give us a call or send us an email on the contact information below.
We will send you a no obligation short-term rental appraisal for your property so you can get to know your potential income with us after all fees.
Go Football Ferns!
Stefan Nikolic is managing director at Zodiak Management. Visit our website zodiak.co.nz, phone 0800 333 325, or email [email protected]