Auckland rents up

The real estate agency has released its latest rental statistics, for January.

The average weekly rent for one-bedroom properties on its books is up 3%, from $305 to $314. Two-bedroom homes’ rent is up 4.2%, from $377 to $393 and rent for three-bedroom houses is up 4.4%, to $480.

Bigger homes also reported rent increases: The average rent for four-bedroom rentals is up 3.6% and homes with five or more bedrooms leapt 7.3% in rent, to $760 on average.

Five-bedroom homes in the Eastern Suburbs experienced the biggest year-on-year increase in rent of all the categories, up 14.3% to $1105 a week.

Barfoot said the central Auckland area was the most expensive to rent one-, two- and three-bedroom homes as well as those with more than five bedrooms. The Eastern Suburbs is priciest for four-bedroom properties.

The Franklin-Manukau region was the cheapest area, across all property sizes, with average rent ranging from $271 for one-bedroom properties, to $586 for homes with more than five bedrooms.

That is 32% less than the highest average rent for one-bedroom properties (in central Auckland), and 113% less than the highest average rent for properties with more than five bedrooms, also in central Auckland.