Auckland rent rises outstrip rest of country

Nationwide, median rents rose across all property sizes in May, with two-bedroom properties having the biggest jump, up 9% from May 2011 to $315 per week. 

One-bedroom properties were the next biggest rise, up 4% to $240, followed by three-bedroom properties, up 3% to $360, and four-bedroom properties, up 2% to $450.

However, in many Auckland suburbs the rent rises far outstripped the national increases.

The biggest year-on-year rise was for a one-bedroom property in the inner-city bays, which had a median rent increase of 31%, from $273 to $357.

The largest fall in the one-bedroom market was in Waterview, down 17% from $275 to $277.

The one-bedroom market was also the most volatile for rents, with nine locations experiencing falls against 18 with rent rises.

In the two-bedroom market Remuera and Birkenhead recorded the largest rentrises, both up 19% respectively from $450 to $535 and $360 to $430.

Only two locations in the two-bedroom market saw rents fall, down 1% in both Pt Chevalier/Mt Albert and East Coast Bays from $365 to $360 and $382 to $380.

Devonport saw the biggest year-on-year rise in median rents for three-bedroomproperties, up 25% from $552 to $690, while Mt Roskill saw the biggest fall, down 4% from $420 to $405.

Of the 30 locations included in the three-bedroom table, 22 saw rents rise, four saw falls and two remained at May 2011 levels.

Remuera was also the biggest riser in the four-bedroom market, up 25% from $800 to $1,000, while Mt Eden took the biggest fall, down 13% from $725 to $630.

Of the 25 locations included in the four-bedroom table, 19 saw rents rise, four saw falls and two remained at the same levels as a year earlier.