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16-12-2011

Remuera rent rises trump nationwide levels

Landlords.co.nz

 

The average weekly rent for a three-bedroom property in Remuera has risen 25% in the year to November 2011, against a 3% rise nationwide.
 
The figures were revealed in the latest Crockers Auckland rental price table.
 
While nationwide in the year to November 2011 average median weekly rents remained relatively stable, up 5% for four bedroom properties, 3% for three-bedrooms, 2% for two and no change for one-bedroom, across the Auckland region there were some large fluctuations.
 
Remuera saw the largest rent rise for three-bedroom properties, up 25% from $600 to $750, with double-digit rises in eight other suburbs (One Tree Hill/Ellerslie, Epsom, Mt Eden, Mt Roskill, Sandringham, Grey Lynn/Westmere, Takapuna/Milford, Birkenhead and Glenfield).
 
City Bays recorded the largest fall in the three-bedroom market, down 8% from $630 to $580.
 
Of the 30 suburbs included in the three-bedroom market figures, 27 saw rises and just three saw falls in average rents.
 
Remuera also saw the largest year-on-year average rent rise in the two-bedroom market, up 27% from $395 to $500.
 
The largest fall in the two-bedroom market was recorded in Pukekohe, down 4% from $270 to $260.
 
Of the 30 suburbs included in the two-bedroom market figures, 24 saw rents rise, two saw falls and four remained at year-earlier levels.
 
In the one-bedroom market Te Atatu saw the largest rent rise, up 27% from $205 to $260, while the largest fall was in Epsom, down 19% from $300 to $242.
 
Of the 24 suburbs included in the one-bedroom data, 15 saw rents rise, seven falls and two remained at November 2010 levels.
 
East Coast Bays saw the largest rent rise for four-bedroom properties, up 24% from $560 to $695. The largest fall was recorded in Mt Eden, down 14% from $675 to $582.
 
There were 22 suburbs with figures for four-bedroom rents, with 12 showing gains on last year, seven falls and one remaining the same.

Tags: crockers

Source: Landlords.co.nz

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