Ups and downs, Auckland year-on-year rents revealed by Crockers

The average rent for a four-bedroom property in Auckland's Ponsonby has risen 57% over the past year, while Epsom has seen a 40% fall, according to the latest Crockers Auckland rental price table.

Monday, May 16th 2011, 2:20PM 4 Comments

by The Landlord

Nationwide, the Crockers figures show the average median rent for a four bedroom property rose 2% from $430 to $440.

In Ponsonby, the average median increased from $700 to $1,100 while in Epsom average rents for a four-bedroom property fell from $700 to $420.

Of the 28 suburbs included in the four-bedroom market, 22 saw rents rise, two remained the same and four saw rents fall.

In the three-bedroom market the largest year-on-year rise was seen in Mount Eden, up 23% from $530 to $652. Prices for three-bedroom rents held steady with only one location, Birkenhead, seeing a fall, down 2% from $495 to $487.

Nationwide, the average median rent for a three-bedroom property rose 1% from $340 to $345.

For two bedroom properties the largest yearly rise was seen in Grey Lynn/Westmere, with the average median rent up 18% from $450 to $530. The three-bedroom market remained largely stable with only two locations seeing rents fall, down 3% in Epsom and 5% in Point chevalier/Mount Albert.

Of the 29 suburbs included in the two bedroom figures, 25 saw rents rise while two remained the same.

Nationwide, the average two bedroom median rent was up 3% from $290 to $300.

The largest rent rise in the one bedroom market was seen in Howick, up 24% from $250 to $310.

The largest fall was in Manakau/Manurewa, where the average median rent fell 5% from $300 to $285.

Of the 22 suburbs included in the one bedroom market, 15 saw rents rise, two remained the same and five saw rents fall.

Nationwide, the average median rent for a one bedroom property rose 2%, up from $225 to $230.

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Comments from our readers

On 17 May 2011 at 8:51 am JG said:
What does 'average median' mean? It's average or median, not both.
On 17 May 2011 at 9:16 am Brett said:
"Epsom average rents for a four-bedroom property fell from $700 to $420" - doesn't sound quite right does it? How many properties sampled in this survey?
On 17 May 2011 at 12:02 pm Diane said:
Yes, does seem very strange that such opposite movements in Epsom and Ponsonby. Seeing they are not that far away, surely tenants would move from Ponsonby to Epsom? I think the survey is not quite right, maybe its only from Crockers managed properties?
On 31 May 2011 at 9:32 am CR said:
What a terrible article, $420 for a four bedroom in Epsom?? I Think not. Four bedrooms rent for well over $420 in Manurewa!!
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