Manawatu Property Investors' Association

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21-02-2014

Auckland rents increase

Landlords.co.nz

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

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