Auckland rent premiums march ahead in April
Wednesday 16 May 2012
The vast majority of Auckland suburbs continue to enjoy significant rental premiums over the rest of the country, according to the latest Crockers Auckland rental price table.
By The Landlord
Nationwide, median weekly rents for one and two-bedroom properties remained at April 2011 levels at $230 and $300 respectively.
Average nationwide weekly rents for three-bedroom properties climbed 4% from $345 to $360 while four-bedroom rents rose 2% from $440 to $450.
Within the Auckland one-bedroom market, just one location commanded less in rent than the nationwide average, Papakura, which also recorded the largest rental fall, down 28% from $250 to $180.
The biggest rent rise in the one-bedroom market was seen in Browns Bay/Torbay/Albany, up 24% from $225 to $279.
In the two-bedroom market just two locations had average rents below the national average, Pukekohe and Mangere/Otahuhu/Otara at $260 and $295 respectively.
The largest rental fall was recorded in Pakuranga, down 3% from $362 to $350.The biggest yearly increase was seen in Epsom, up 15% from $390 to $447.
In the Auckland three-bedroom market Pukekohe and Papakura were the only locations below the nationwide average at $350 each.
The largest yearly fall was recorded in Mt Eden, down 11% from $652 to $580. The largest rise was recorded in Devonport, up 21% from $600 to $725.
As with the three-bedroom market, only Pukekohe and Papakura had four-bedroom rents below the national average at $440 and $420 respectively.
The largest year-on-year falls were seen in Remuera and Devonport, both down 17% from $875 to $725 and $735 to $610 respectively.
Commenting is closed
Provincial markets stole the asking price spotlight from the main centres in January, according to the latest Trade Me Property Price Index.
Tightening credit conditions could impact on New Zealand’s booming commercial property market, according to the Property Council’s chief executive.
Heartland has expanded its reverse mortgage business and will now lend against investment properties and second homes, as the product becomes more popular in New Zealand.