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Birkenhead bucks rent trends

The average median rent for a three-bedroom property in Birkenhead rose 27% in the year to August 2011, while the same sized property in Auckland City Centre saw a 22% fall.

Friday, September 16th 2011, 3:03PM

by The Landlord

The figures are revealed in the latest Crockers Auckland rental price table.

While nationwide in the year to August 2011 the average median weekly rents for one, two, three and four-bedroom properties remained relatively stable, with 5% rises for one and four-bedroom properties, a 3% increase in three-bedroom rents and no change for two-bedroom properties, in the Auckland region there were some large fluctuations across property size and suburb.

The largest rise was seen in the four-bedroom market in Grey Lynn/Westmere, up 40% from $500 in August 2010 to $700.

The largest fall in the four-bedroom market was recorded in City Bays, down 12% from $800 to $707.

Of the 24 locations included in the four-bedroom figures, 17 saw rents rise, one remained at year earlier levels and six saw rents fall.

Bucking the nationwide trend of a 3% rise in weekly rents for three-bedroom properties the City Centre (Parnell/Grafton/Newton) saw a 22% fall in the average median weekly rent, down from $637 in August 2010 to $500.

The largest rise in the three-bedroom market was seen in Birkenhead, up 27% from $510 to $650.

Of the 30 locations included in the three-bedroom figures, 25 saw rents rise, one remained the same as August 2010 and four suburbs saw rents fall.

The biggest rent rises in the two-bedroom market were in Devonport, up 32% from $360 to $475.

The largest fall in the two-bedroom market was in Pukekohe, down 4% from $260 to $250.

Of the 30 locations in the two-bedroom figures 24 saw rents rise, two locations remained at year ago levels and four saw rents fall.

Birkenhead was also the biggest riser in the one-bedroom market, with the average median rent up 24% from $262 to $325.

The largest one-bedroom fall was recorded in Takapuna/Milford, down 15% from $310 to $265.

Of the 25 locations included in the one-bedroom figures, 15 saw rents rise, four saw no change and six saw rents fall.

« Calls for earthquake strengthening costs to be depreciableQV August 2011 – the regions »

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Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 4.05 4.49
ANZ Special - 3.55 3.55 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
BNZ - Classic - 3.49 3.55 3.89
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 ▼4.65 ▼4.80 -
HSBC Premier 5.24 3.54 3.54 3.69
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.97 4.05 4.39
Kiwibank ▼5.15 4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 ▼4.45 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 ▲3.55 3.89
Sovereign 5.30 3.89 4.05 4.39
Sovereign Special - 3.39 3.55 3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.19 4.35 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.39 3.55 3.89
Wairarapa Building Society ▼5.50 ▼3.95 ▼4.05 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.55 3.99
Median 5.34 3.97 4.05 4.39

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