About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Wednesday, December 12th, 9:54AM
rss
Latest Headlines

Slow rise for Auckland rents

Auckland rents are rising at the slowest pace in years, according to Barfoot & Thompson’s latest quarterly rental market update.

Wednesday, August 8th 2018, 12:00PM

by The Landlord

The cost of renting a typical three-bedroom property* in Auckland between April and June was up by 3.5%, or $19 a week, as compared to the same period in 2017.

But Barfoot & Thompson director Kiri Barfoot says it is the smallest percentage increase in weekly rents they have seen in at least the last two years.

It is also the first time the average increase has dropped below the $20 per week mark, she says.

“This time last year, the average increase in weekly rent on a three-bedroom home was more like $22, and in 2016 it was as high as $24.”

The downward trend seen in the first two quarters of 2018 follows a period of steady rises of around 4.3% per quarter year-on-year throughout 2017.

Over the course of 2015 and 2016, there was much higher increases of 5.0% or more.

Barfoot says the average weekly rent for all property sizes is edging downwards in keeping with the three-bedroom example.

It is up by 4.0% to $599 on the same period last year but that compares to other recent year-on-year quarterly increases of between 4.4% and 4.8%, she says.

“We are likely seeing the beginning of a ‘new normal’ in rental price trends as landlords strike a fine balance in their pricing in the face of rising operating and compliance costs.”

However, one-bedroom properties bucked the trend, with continued pressure on weekly rents and a quarterly year-on-year of 4.6%.

West Auckland was the only region of the city to experience price increases above 5.0%, which reflects the growing popularity of the area among renters.

*Three-bedroom properties make up the bulk of the agency’s 16,000 strong portfolio and so are used as a standard example.

« Proof rent can be paid crucialFailure to provide heating costs »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.55 4.79 4.99
ANZ Special - 4.05 4.29 4.49
ASB Bank 5.80 4.44 4.69 4.89
ASB Bank Special - 3.95 4.29 4.49
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.10 4.29 4.49
BNZ - Std, FlyBuys 5.90 4.69 4.79 4.99
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.20 5.25 -
Lender Flt 1yr 2yr 3yr
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.70 4.85 -
Housing NZ Corp 5.80 4.69 4.79 4.79
HSBC Premier 5.89 3.99 4.19 4.69
HSBC Premier LVR > 80% - 3.79 - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.55 4.69 4.99
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.05 4.29 4.49
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special - - - -
SBS Bank 5.89 4.85 5.05 4.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.19 3.95 4.49
Sovereign 5.90 4.45 4.69 4.89
Sovereign Special - 3.95 4.29 4.49
The Co-operative Bank - Owner Occ 5.75 4.10 4.35 4.49
The Co-operative Bank - Standard 5.75 4.60 4.85 4.99
TSB Bank 5.80 4.45 4.69 4.99
TSB Special - 3.95 4.19 4.49
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.69 4.79 5.19
Westpac - Offset 5.95 - - -
Westpac Special - 4.15 4.29 4.59
Median 5.89 4.50 4.69 4.79

Last updated: 2 December 2018 8:39pm

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com