Auckland rent rises continue to outstrip rest of country

Nationwide, median rents for one-bedroom properties remained unchanged from a year ago while two, three and four-bedroom rents have risen 3%, 3% and 2% respectively.

Within the Auckland region however, the majority of rent increases have far outstripped the national average.

The largest year-on-year increase was for a one-bedroom property in Orewa (Silverside to Wellsford), up 24% from $250 to $310.

Seven locations in the one-bedroom market saw rents fall on March 2011, with Pt Chevalier/Mt Albert recording the largest fall, down 18% from $267 to $220 - the same level as the nationwide average.

Of the 27 locations included in the one-bedroom figures 18 saw rents rise while two remained at year earlier levels.

Auckland's rent premiums were especially apparent in the two-bedroom market, where not one of the 31 locations saw rents fall below March 2011 levels.

The largest two-bedroom rise was seen in Grey Lynn/Westmere, up 16% from $440 to $512.

While no location saw rents fall, they remained static in three locations; Mangere/Otahuhu/Otara, Devonport and Birkenhead.

In the three-bedroom market the largest price rise was recorded in City Bays, up 22% from $550 to $670. The largest fall was seen in Takapuna/Milford, down 4% from $550 to $530.

Of the 31 locations included in the three-bedroom figures 26 saw rents rise, four saw falls and one - Pukekohe - remained static.

The biggest rent rise in the four-bedroom market was recorded in Grey Lynn/Westmere, up 18% from $645 to $762.

The City Centre recorded the largest fall - down a hefty 39% from $900 to $550 - though still a $100 premium on the nationwide average of $450.

Of the 25 locations in the four-bedroom figures 17 saw rents rise, four saw falls and four remained static.