16-05-2011

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

Landlords.co.nz

1. News
2. 2011
3. May

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.

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.

Source: Landlords.co.nz