21-02-2014

Auckland rents increase

Landlords.co.nz

1. News
2. 2014
3. February

Almost all areas of Auckland and sizes of properties reported rent increases in January, according to Crockers’ latest report.

The biggest rental increase for three-bedroom properties was seen in the Birkenhead/Northcote Point area. Their average weekly rent increased 11% compared to the year before.

The City Bays region, from Mission Bay to St Heliers, posted a 15% increase in rent for four-bedroom properties.

Four-bedroom properties in the city centre reported the biggest fall in average rent, down 11%. Crockers noticed that this type of property could be prone to fluctuations because of the relatively small number of bonds received.

For three-bedroom properties, only Takapuna and the CBD reported drops in rent compared to a year earlier, down 2% and 4% respectively.

There were strong increases in city fringe suburbs such as Point Chevalier and Ponsonby.

Even suburbs further out of the city posted increases, such as Papakura (up 5% for three-bedroom homes), Pukekohe (up 3% for three- and four-bedroom homes) and Papatoetoe (up 6% for one-bedroom, and 3% for three- and four-bedroom homes).

Rents still lag house prices significantly. QV says year-on-year Auckland sales prices are up about 15%.

Source: Landlords.co.nz