Property

Rents up but yields down

Rent increases have not kept pace with house prices in most parts of the country over the past year, reducing property investors’ yield.

Friday, February 08th 2013

While median house prices nationwide were up almost 10% on 2011, rents increased by about half that over 2012, according to Real Estate Institute statistics.

But Christchurch landlords  increased their rents by more than twice the national median.

Nationwide, the median rent for a three-bedroom home edged up by $20 a week. In quake-hit Christchurch, tenants are now paying $50 more than this time last year.

In Wellington, 11 districts saw rents drop in a stable residential sales market and in Auckland rents fell in inner-city suburbs - where prices are rising fastest - but rose in suburbs a little further out.

Western and southern Auckland suburbs saw rises of about $10 on average rents of about $380 a week and eastern suburbs experienced rent rises of up to $30.

The REINZ figures show that 5769 dwellings were let in December, a 23% drop from the 7468 new lettings in December 2011.

Comments

No comments yet

Most Read

Unity First Home Buyer special 3.99
SBS FirstHome Combo 3.99
ICBC 4.25
Co-operative Bank - First Home Special 4.39
TSB Special 4.49
ANZ Special 4.49
ASB Bank 4.49
SBS Bank Special 4.49
Unity Special 4.49
Westpac Special 4.49
Kiwibank Special 4.49
TSB Special 4.00
Kainga Ora 4.49
Kiwibank Special 4.49
ICBC 4.59
Unity Special 4.65
ANZ Special 4.69
SBS Bank Special 4.69
Nelson Building Society 4.69
BNZ - Std 4.69
Westpac Special 4.75
AIA - Go Home Loans 4.75
ICBC 4.99
Kainga Ora 5.15
SBS Bank Special 5.29
Westpac Special 5.29
BNZ - Std 5.29
Kiwibank Special 5.39
TSB Special 5.39
ASB Bank 5.45
AIA - Go Home Loans 5.45
Co-operative Bank - Owner Occ 5.49
BNZ - Classic 5.59
SBS FirstHome Combo 3.29
AIA - Back My Build 3.34
SBS Construction lending for FHB 3.74
CFML 321 Loans 3.95
Co-operative Bank - Owner Occ 4.99
Co-operative Bank - Standard 4.99
Heartland Bank - Online 5.30
ICBC 5.39
Kiwibank - Offset 5.65
Kiwibank 5.65
Kainga Ora 5.69

More Stories

Wednesday, January 07th 2026

Queenstown not off the radar for first home buyers

First home buyers are not being deterred by Queenstown’s soaring house prices.

Record levels of first home buyers taking out low deposit loans

Tuesday, December 23rd 2025

Record levels of first home buyers taking out low deposit loans

About half of all first home buyer lending has been done at a less than 20% deposit in recent months.

Buyers sitting on the sidelines in best time to buy in a decade

Thursday, December 04th 2025

Buyers sitting on the sidelines in best time to buy in a decade

Stable house prices, low interest rates and plenty of houses to choose from are still not enticing buyers.

Differing views on 50-year mortgage

Tuesday, December 02nd 2025

Differing views on 50-year mortgage

US president Donald Trump recently raised the idea of 50 year mortgages; but New Zealand advisers say such long loans won’t take off in New Zealand.