New Zealand Property Investors' Federation

The NZPIF is the umbrella body for 17 local Property Investors' Associations throughout New Zealand.

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Rent jump for city homes

Four-bedroom homes in Ponsonby now rent for an average of $886 a week, 14% up on the $778 they were getting last year.

Three-bedroom properties in the same suburb have stayed constant at $694 a week.

Parnell, Grafton and Newton four-bedroom properties have also had a big rental increase, up 16% to $712 a week.

Remuera is still the most expensive suburb in which to rent in Auckland. Four-bedroom homes there rent for an average of $903 per week, 7% up on the $742 they were going for this time last year.

But four-bedroom properties in Devonport, another of the city’s sought-after suburbs, dropped in price. They now rent for an average of $647 a week, 18% down on the $788 they were renting for in 2011.