Average rent auckland

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Auckland average rental prices reach new high but central city properties dip

"We have long suspected the market would hit the $600 mark during 2020. And while this was dampened somewhat by the effects of lockdown, the momentum continued among newly signed tenancies," said Barfoot & Thompson director Kiri Barfoot.

"Activity during this quarter was also not constrained by the rent freeze, which ended in late September, and we’ve seen a slight lift in average prices across the board."

In March 2020, the Government announced a rent increase freeze in response to the COVID-19 pandemic. The freeze lasted until September. 

The data highlights that eastern Auckland suburbs on average are the most expensive at $675 a week. That's followed by properties on the North Shore and then central suburbs. 

The biggest year-on-year increase was for homes in south Auckland, while the average weekly rent for central Auckland properties decreased by 1.9 percent. 

Barfoot said three-bedroom homes - which make up the majority of the city's rental stock and are often used as a market benchmark - attracted rents of $597 per week in December, up 2.6 percent. 

She said property managers are reporting increased activity and interest in listings, with a high number of potential tenants attending viewings. 

"The number of available properties is fairly steady, however interest and competition for properties appears to be on the up.

"And while we are seeing some owners choosing to exit the market, we are also seeing an increase in the number of rental appraisal requests from new investors, which is promising."

Sours: https://www.newshub.co.nz/home/money/2021/01/auckland-average-rental-prices-reach-new-high-but-central-city-properties-dip.html

Auckland Central
Central Auckland

Auckland Central Weekly Rent For 2 Bedroom houses – Unfurnished

Blockhouse Bay / New Windsor$467$500 $547
Grafton / Newton$590$630$640
Great Barrier / Waiheke Islands $480$550$592
Grey Lynn / Arch Hill$630$692$772
Mt Albert / Owairaka$465$535$580
Mt Eden$550$620$650
One Tree Hill / Royal Oak$535$580$620
Onehunga / Oranga / Te Papapa$500$540$560
Orakei / Mission Bay$550$610$695
Otahuhu$417 $450$492
Point Chevalier$520 $580$642
Ponsonby / Freemans Bay$660$725$875
St Helliers / Glendowie$580$630$660
Three Kings$472$590$662
Wesley / Mt Roskill$493$525$592

Auckland Central Weekly Rent For 3 Bedroom Houses – Unfurnished

Blockhouse Bay / New Windsor$555$597$650
Grafton / Newton
Great Barrier / Waiheke Islands$562$645$737
Grey Lynn / Arch Hill$767$890$1000
Mt Albert / Owairaka $615$650$750
Mt Eden$672$750$843
One Tree Hill / Royal Oak$650$720$790
Onehunga / Oranga / Te Papapa$611$660$727
Orakei / Mission Bay$697$795$890
Otahuhu $500$550$590
Point Chevalier$695$760$822
Ponsonby / Freemans Bay$850$950$1050
St Helliers / Glendowie$698$750$900
Three Kings$637$680$735
Wesley / Mt Roskill$570$600$630

The prices above were recorded during the six months to 30 September 2020.

The September 2020 Barfoot and Thompson rental report stated that, in the Auckland Central suburbs, Aucklanders are paying around $657 per week for a three bedroomed property and $524 for a two bedroomed property.

The report also stated that in the city centre, Aucklanders are paying around $1,041 per week for a three bedroomed property and $612 for a two bedroomed property. (There are relatively few three bedroomed properties in this area.)

From the selection displayed, the Tenancy Services Division figures show that in Auckland Central the most expensive average rent for a two bedroomed house is in Ponsonby / Freemans Bay costing $725 per week. The cheapest is in Otahuhu costing $450 per week.

For a three bedroomed house in Auckland Central the most expensive average rent is in Ponsonby / Freemans Bay and Parnell costing $950 per week and the cheapest is in Otahuhu costing $550 per week.

Return to the Rentals New Zealand Main Page or find flat rents in Auckland City.

Notes and Definitions:

• Cheaper: One-quarter of properties rent for less than this price.
• Average: This is the median price
• Dearer: One-quarter of properties rent for more than this price.

Properties are often let from January for 12 months, hence there is often an increase in rents at the beginning of the year.

The data shows market rents for non-government owned properties for which Tenancy Services holds information. Any category that has less than five bonds lodged has been excluded, to prevent individual properties being identified. Data courtesy of the Tenancy Services Division of the New Zealand Government’s Ministry of Housing.

Sours: https://www.enz.org/house-rents-auckland-central.html
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Cost of Living in Auckland

Edit RangeMeal, Inexpensive Restaurant 21.50 NZ$ 14.00-50.00Meal for 2 People, Mid-range Restaurant, Three-course 120.00 NZ$ 85.00-250.00McMeal at McDonalds (or Equivalent Combo Meal) 13.10 NZ$ 12.00-16.39Domestic Beer (0.5 liter draught) 10.00 NZ$ 6.00-12.00Imported Beer (0.33 liter bottle) 10.00 NZ$ 8.00-15.00Cappuccino (regular) 5.04 NZ$ 4.00-6.00Coke/Pepsi (0.33 liter bottle) 3.21 NZ$ 2.00-4.60Water (0.33 liter bottle) 2.62 NZ$ 2.00-4.00 Edit Milk (regular), (1 liter) 3.00 NZ$ 2.00-4.50Loaf of Fresh White Bread (500g) 3.02 NZ$ 1.69-5.00Rice (white), (1kg) 3.10 NZ$ 2.00-4.50Eggs (regular) (12) 5.89 NZ$ 3.59-8.40Local Cheese (1kg) 11.58 NZ$ 8.00-15.00Chicken Fillets (1kg) 13.77 NZ$ 8.00-22.00Beef Round (1kg) (or Equivalent Back Leg Red Meat) 20.62 NZ$ 12.00-32.00Apples (1kg) 3.95 NZ$ 1.00-5.00Banana (1kg) 2.94 NZ$ 2.00-4.00Oranges (1kg) 3.93 NZ$ 2.49-6.00Tomato (1kg) 5.27 NZ$ 1.99-14.00Potato (1kg) 2.70 NZ$ 1.20-3.15Onion (1kg) 2.37 NZ$ 1.20-3.00Lettuce (1 head) 3.21 NZ$ 2.00-5.00Water (1.5 liter bottle) 1.70 NZ$ 0.99-3.00Bottle of Wine (Mid-Range) 15.00 NZ$ 10.00-20.00Domestic Beer (0.5 liter bottle) 4.46 NZ$ 2.91-8.00Imported Beer (0.33 liter bottle) 4.79 NZ$ 2.50-9.00Cigarettes 20 Pack (Marlboro) 35.00 NZ$ 30.00-40.00 Edit One-way Ticket (Local Transport) 4.00 NZ$ 3.00-5.50Monthly Pass (Regular Price) 215.00 NZ$ 160.00-220.00Taxi Start (Normal Tariff) 3.50 NZ$ 3.00-8.00Taxi 1km (Normal Tariff) 2.65 NZ$ 2.00-6.00Taxi 1hour Waiting (Normal Tariff) 60.00 NZ$ 50.00-100.00Gasoline (1 liter) 2.22 NZ$ 2.00-2.40Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 36,500.00 NZ$ 35,000.00-40,000.00Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 31,978.46 NZ$ 30,000.00-35,000.00 Edit Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment 206.40 NZ$ 150.00-306.001 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.37 NZ$ 0.10-0.50Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 76.00 NZ$ 60.00-95.00 Edit Fitness Club, Monthly Fee for 1 Adult 72.49 NZ$ 30.00-120.00Tennis Court Rent (1 Hour on Weekend) 20.25 NZ$ 15.00-25.00Cinema, International Release, 1 Seat 18.00 NZ$ 15.00-22.00 Edit Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 1,126.00 NZ$ 800.00-1,400.00International Primary School, Yearly for 1 Child 18,555.56 NZ$ 14,000.00-22,000.00 Edit 1 Pair of Jeans (Levis 501 Or Similar) 110.60 NZ$ 60.00-145.001 Summer Dress in a Chain Store (Zara, H&M, ...) 70.46 NZ$ 30.00-100.001 Pair of Nike Running Shoes (Mid-Range) 144.66 NZ$ 100.00-199.001 Pair of Men Leather Business Shoes 176.85 NZ$ 120.00-250.00 Edit Apartment (1 bedroom) in City Centre 1,947.50 NZ$ 1,400.00-2,500.00Apartment (1 bedroom) Outside of Centre 1,701.20 NZ$ 1,100.00-2,200.00Apartment (3 bedrooms) in City Centre 3,487.96 NZ$ 2,800.00-4,800.00Apartment (3 bedrooms) Outside of Centre 2,722.34 NZ$ 2,000.00-3,500.00 Edit Price per Square Meter to Buy Apartment in City Centre 12,128.41 NZ$ 10,000.00-17,000.00Price per Square Meter to Buy Apartment Outside of Centre 8,831.47 NZ$ 5,833.00-12,000.00 Edit Average Monthly Net Salary (After Tax) 4,637.59 NZ$Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 3.24 2.49-4.44
Sours: https://www.numbeo.com/cost-of-living/in/Auckland
Apartment for Rent in Auckland 3BR/2BA Auckland Property Management

This data is updated monthly and contains bond information from the previous six months (not including the most recent month). For example, the update in July will include bond information from 1 December – 31 May.

It is a useful guide for landlords and tenants but should not be used alone to determine the market rent of any property.

The default market rent area displayed is based on your IP address.

The market rent amount listed is weekly rent.

The total bond in the green box above includes all bonds. The 'active bonds' column of the data for each dwelling type below includes all current bonds for the six month time period. 

Market rent explained has more information.

SizeActive bondsLower QuartileMedian RentUpper Quartile
1 bedroom30$370$420$430
2 bedrooms60$520$585$590
SizeActive bondsLower QuartileMedian RentUpper Quartile
1 bedroom105$345$368$405
2 bedrooms180$405$450$478
SizeActive bondsLower QuartileMedian RentUpper Quartile
1 bedroom42$385$388$406
2 bedrooms243$500$550$600
3 bedrooms816$580$600$678
4 bedrooms267$688$743$800
5+ bedrooms69$700$815$893
SizeActive bondsLower QuartileMedian RentUpper Quartile
1 bedroom51$193$215$230
Sours: https://www.tenancy.govt.nz/

Rent auckland average

Housing in New Zealand

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Everything You Need to Know about Finding a New Home

Finding accommodation in New Zealand should be relatively hassle-free. The housing market is well regulated, with options for both flexible and longer-term contracts, and buying a house could take only a matter of weeks. This section introduces you to a safe and straightforward process for both renting and purchasing in the country.

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In this section, you can read all about housing in New Zealand and what to expect when looking for your new home in the country. Whether you need short-term rentals, are looking for houses and apartments for rent for a longer period of time, or intend to buy a house in New Zealand, here you can find all the requirements and processes that go with finding new accommodation.

This section also briefs you on the different types of houses you may find in the land of Kiwis. Decide which one fits you and your budget best, from apartments to townhouses, multifamily properties, and others.

Renting a House or Apartment

If you are counting on a smooth relocation to New Zealand, knowing how to rent a house or apartment in advance will get you a long way.

What is the Average Rent in New Zealand?

Rent in New Zealand is calculated weekly, so keep that in mind when considering the value of the rent advertised. The average rent is around 400 NZD (265 USD) a week for a small home (one or two bedrooms), and 530 NZD (350 USD) for a two- or four-bedroom apartment or house. However, rent prices in New Zealand will largely change depending on the region. Auckland is the most expensive city of all, with rent costing anywhere from 600 NZD (400 USD) to 850 NZD (560 USD) a week, depending on the size of the accommodation.

How much is the rent in New Zealand? Monthly, a one-bedroom apartment in a city center would cost on average 1,500 NZD (990 USD), and 1,200 NZD (790 USD) outside the center. A three-bedroom apartment would usually cost 2,500 NZD (1650 USD) in the center, and 2,000 NZD (1,320 USD) outside the city center.

What is the Minimum Rent in New Zealand?

The minimum rent in New Zealand for a one-bedroom apartment in the city center would be 850 NZD (560 USD) a month. For an apartment outside the city center, 800 NZD (530 USD) a month would be the minimum amount. For three-bedroom apartments, you would pay a minimum of 1,500 NZD (990 USD) in the city center or 1,300 NZD (860 USD) outside the city center.

Furnished or Unfurnished: Which is More Common?

Typically, homes in New Zealand tend to be unfurnished. Also, the more bedrooms a rental property has, the less likely it is to be furnished. One-bedroom apartments are the type of homes more likely to be furnished since these are preferred by students, travelers, or other tenants in need of short-term accommodation. Still, only about one-quarter of these come with furniture.

For reference, the table below lists the average weekly rent for furnished and unfurnished homes. (Prices are written NZD (USD).

1 bedroom2 bedrooms3 bedrooms4 bedrooms
Unfurnished320 (210)420 (275)510 (340)640 (420)
Furnished380 (250)500 (330)600 (400)650 (430)

Rental Process and Rules for Tenants and Landlords

There are two types of tenancies in New Zealand:

  • Fixed-term tenancy – typical rental contract with a fixed start and end date.
  • Periodic tenancy – flexible agreement that ends when either the tenant or the landlord wishes to give notice.

Once the fixed-term ends, the tenancy becomes periodic. As mentioned, the periodic tenancy has no end date. Usually, tenants must give 21 days’ notice in writing, while the landlord is expected to give a 90 days’ notice if they wish to terminate the tenancy.

It is also possible to have a short fixed-term tenancy, which consists of a 90-day period or less. This type of tenancy does not become periodic after it ends.

As for the rules of tenants and landlords, these are pretty standard. The landlord has to ensure the property meets all the health and safety standards, and they should not disturb the tenant during their accommodation. In case the landlord is absent from New Zealand for more than 21 days, they should have an agent represent them.

The tenant is responsible for paying rent on time, as well as paying for their own expenses, such as gas, electricity, or internet. They must also ensure the property and the furniture in it is left in good conditions.


“Flatting” in New Zealand refers to sharing an apartment (a flat) with other tenants. You will also hear roommates being referred to as flatmates or “flatties.” When you come across the word “flat” or “unit” in New Zealand, these refer to smaller properties, similar to apartments, that may be attached to another property.

Rental Contract and Deposit

When renting in New Zealand, you will be asked for a deposit, or, as it is commonly referred to, a bond. This deposit can be up to 4 weeks rent and should be returned to you at the end of the tenancy if no damage was done to the property and the furniture in it.

Aside from this, you will also be asked to pay rent in advance. Typically, landlords will ask for a one- or two-weeks’ rent in advance, depending on whether you pay rent weekly or every two weeks.

You may also benefit from an option fee. If you are unsure whether you wish to rent a property or not, you may give the landlord one week’s rent in advance, for them to hold it for you. If you do end up renting the property, the money you gave should count as part of the rent.

To Include in the Contract

The following information should be included in the rental contract:

  • Full name of the tenant and landlord;
  • Contact addresses of the tenant and landlord, including email address and phone number;
  • The address of the property being rented;
  • The start date (and end date of the tenancy, if it is fixed-term), as well as the date the agreement was signed;
  • The amount of the bond, the rent, the frequency of payments, as well as the place or bank account where the rent is to be paid;
  • Any fees to be paid, such as, for example, an agent or solicitor;
  • A list of items provided by the landlord with the property;
  • Information provided by the landlord about insulation installed in the ceilings, floors, or walls together with details of the location, type, and condition of all insulation

Requirements and Documents for Renting

Some documents are required to rent in New Zealand, regarding your identity, source of income, and character. You will typically be asked for your ID, such as your passport or driver’s license, and you may be required to show proof of income. As for your character, you will need references which could be from previous landlords, real estate agents, or anyone who is not related to you.

You will also have to fill a pre-tenancy application form, which helps landlords choose a tenant. This form includes some initial information, such as your name, contact details, renting history, and the contact of the references you provide. You may be asked to fill a bond lodgment form with your landlord. You should also be given a letter from the Ministry of Business, Innovation and Employment (MBIE), confirming your bond has been lodged.

Paying Utility Bills

In general, if a cost is the result of living in the property, the tenant has to pay the bill. This is valid for water, gas, electricity, and internet. Alternatively, landlords typically pay for wastewater, but they may request the tenant to pay for it. Since the water account cannot be in the tenant’s name, the tenant would have to pay the landlord directly. If the gas is supplied by gas bottles, the landlord must provide a gas cylinder and the necessary piping for its use. Both tenants and landlords must also pay for their own insurance.

Short-Term Rentals

If you need a place to stay as soon as you land and you do not have an apartment or house ready for you, you can rest assured there are many options for short-term rentals.

It is common for new arrivals to stay at local hotels, holiday homes, “tourist flats”, or cabins. Their availability will largely depend on whether it is the tourist season or not. The average price for short-term accommodation is 100 NZD a night for one person and 200 NZD for two people.

You should also know that short-term rental contracts are quite common in New Zealand. These will allow you to stay in a room or apartment for longer, but still, require a low commitment on your part. This type of tenancy has no end date and you are only required to give notice 21 days before moving out. If you choose this type of accommodation, the documents you will need are the same ones listed above for long-term rentals.

The most common places to find accommodation are TradeMe or Realestate.co.nz, but you can always rely on popular holiday housing.

Buying Property as a Foreigner

If you are wondering how you can buy property in New Zealand as a foreigner, know that, overall, the process of buying a house is well organized and regulated, making it fast and relatively worry-free. You can buy a house as quickly as in three or four weeks. You also do not need to worry about last-minute bids snatching your already chosen home once you have made an official bid.

House Prices in New Zealand

The current average house price in New Zealand is 560,000 NZD (380,000 USD). Below is a list of average house price per region, from the most expensive to the least expensive:


RegionsMedian price
Bay of Plenty610,000415,940
New Zealand national average560,000381,850
Nelson /Marlborough /Tasman532,500363,090
Hawke´s Bay457,000311,615
West Coast219,000149,330


Source: Real Estate Institute of New Zealand (REINZ), Global Property Guide

Types of Property in New Zealand

You will typically find these common types of residential properties in New Zealand:

  • Apartments, or flats, and studios are common in bigger cities. These can be new apartment buildings, or converted commercial buildings, which are becoming increasingly popular.
  • The single-family houses are stand-alone houses with back and front yards, completely independent from other properties.
  • Multi-unit or multifamily properties consist of two or three homes that share a roof.
  • Condominiums, or condos, are housing complexes with shared facilities, such as lawns or backyards.
  • Townhouses are individual homes of two or three floors that share its wall with the neighboring homes. As these are usually spacious, they are ideal for families.

Most houses are standalone houses, which include the block of land. However, you can buy solely a block of land, or section, where you can build a home of your choice.

Buying a House in New Zealand: Process and Steps

If you plan on owning land or property in New Zealand, there are a few things to keep in mind. The most common process of finding a home is to rely on a real estate agent, although private sales are also an option. Whether you decide to go with an agent or to purchase directly with the owners, it is a good idea to rely on a lawyer or conveyancer with experience with house buying.

You will have a better chance with the negotiations if you get pre-approved for a home loan. You can get a pre-approval with your preferred bank. The amount you can borrow will depend on the value of the house, how much deposit you have, income, etc.

Once you find the property you are interested in, the first step is to get a title search. This should give you all the details of the property you are interested in. This includes important information regarding the legal owner, the type of estate (which will determine what you can do with the property), and interests, which refer to any type of rights and restrictions on the property title. You can read more about types of ownership here. You may be able to research some property information for free with some online councils or on-site by visiting the council offices.

What Are the Requirements to Buying Property?

As of 2018, buying property in New Zealand as a foreigner has become more difficult. In order to curb the steeping housing prices caused by wealthy foreigners buying houses in the country, one of the requirements for buying a house is to have residency status.

To buy a home in New Zealand you will typically need a loan from a bank or lender. Although this is not a requirement, it does show agents and sellers that you are committed to the purchase. To do so you would have to present to your bank:

  • a copy of the signed sale and purchase agreement
  • your chosen property evaluation from an accredited inspector in case of a private sale
  • a Land Information Memorandum (LIM) report (local government’s information about the property)

If you do take out a loan or mortgage, you may need to bring evidence of your credit history from your home country.

You would also need to prove to your bank or lender that you have obtained property insurance before settlement day.

Buying a House in New Zealand to Obtain Citizenship or Permanent Residency

If you wish to obtain citizenship by purchasing property in New Zealand, you should know this is not possible. There are currently no direct or immediate citizenship options, and you may only become a citizen after living in New Zealand for five years.

You can, however, become a permanent resident by investing in residential property. In order to do so, you would need to apply for an investor’s visa, which is covered in more detail in the Visa & Work Permits section. These types of visas allow you to live in the country if you invest a minimum amount of 2.5 Million NZD (1.6 Million USD) for a period of four years or 10 Million NZD (6.5 Million USD) for a period of three years. You should know, however, that the rate of rejection for these types of visas is high and that more than half of all applications are declined.


In this topic, we cover how you can set up your utilities and which are the top utility companies in the country, for electricity, gas, water, and internet.

You will typically have to contact utility providers yourself once you have settled on a place. The required documents may depend on the provider you opt for, and in most cases you will need to contact them, either through their website or by phone, to know what you will need. These requirements could include:

  • Your personal details, including phone number and email;
  • Your account information for direct debits—you may also pay by online banking, automatic payment, by New Zealand post, credit card, or cheque, in some cases;
  • Details about the property, including the contract that shows your connection to the property (proprietor, tenant, etc.);
  • The Installation Control Point (ICP) in the case of electricity, which can be found in the meter box of your new place.

Electricity and Gas

The type of outlet used in New Zealand is Type I, a three-flat pinned type of outlet that is also used in China, Australia, Argentina, and a few other countries. This outlet type is quite uncommon globally so keep that in mind in case you plan to buy plug adaptors or furniture you wish to keep.

Gas is commonly used throughout the country, for heating and cooking. In some parts of the North Island, you will find pipped natural gas, whereas in the rest of the country you would have gas supplied in bottles.

You will also find wood burners popular in New Zealand. In case you wish to use them as a form of heating, make sure the burner has a building consent and that your chimney is swept annually to keep your insurance cover valid.

Some of the companies provide electricity and gas are Genesis Energy, Contact Energy, Mercury Energy, Meridian Energy, or Trustpower.


Water is supplied by local councils, and the rates vary from region to region. The contract with the water supplier will typically be in the proprietor’s or landlord’s name instead of yours. When moving in or out, it is their responsibility to inform the local water supplier.

If you are renting your home, you will typically pay for the water usage registered on the meter while any additional expenses with the local council will fall on the proprietor.

You can pay your water bill via credit or debit card, digital payments, or through the app if the local company has one.

Water in New Zealand is treated, which makes tap water drinkable throughout the country. In late summer, some water shortage may happen, with dams and reservoirs running low, but, generally, water is easily available.

Internet and Mobile Phones

Generally, internet services in bigger cities are faster and more readily available than in other parts of the country. Although Vodafone does provide cable connections in some areas, most of the internet being provided in the majority of the country is connected through phone lines with ADSL2+. In many rural areas, internet connections for broadband are provided through satellite.

In major cities and towns, you can also find 4G mobile broadband available, but 3G is more common in most of the country. In the center of some major cities, such as in Auckland, Rotorua, or Wellington, you may even find free public Wi-Fi service.

Getting a Phone Number in New Zealand

If you wish to get a phone number in New Zealand, you will need to take your device to a branch of the service provider of your choice. There you can then purchase a mobile and data pack, which will cost around 19 NZD (12 USD).

Some of the main mobile phone providers are:

  • Vodafone
  • 2degrees
  • Spark
  • Skinny

Cell phone coverage is not guaranteed in more rural or secluded areas, so keep that in mind whenever exploring more remote parts of the country.

Television in New Zealand

TV in New Zealand is entirely digital. You may watch television free-to-air if you have a Freeview box, or you can subscribe to Pay TV, which includes more channels.

Freeview is a TV service with no fees. You will typically have to pay for the equipment, which is a one-time purchase. Some channels available in Freeview are specific to certain regions, and may also depend on which type of TV antenna you use.

If you opt for paid television, there are three main TV providers you can choose from Sky, Igloo, and Vodafone.

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AUCKLAND CITY APARTMENT HUNTING GUIDE: hunting process, rent/expenses etc

Average Auckland rents tipped to hit record $600 a week this year: $18/week rise forecast

Auckland rents are forecast to hit a new record of $600 a week.

Kiri Barfoot, a director of property management and agency Barfoot & Thompson, said Auckland average rents were 2.5 per cent higher in last year's final quarter compared to 2018's final quarter and she expects rents to keep rising.

"The average weekly rent for an Auckland home now sits at $582 and the current annual increase of around 3 per cent will see it reach the $600 mark within the year," she said.

• Auckland CBD first-quarter rents jump 10% as rental squeeze tightens
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• Rental squeeze grips country as rents climb to record highs in Wellington and Auckland

Barfoot said the pace of Auckland rent increases slowed last year with the lowest rise recorded in the last three months of the year.

"The average weekly price tag for a rental property in Auckland during the October to December quarter was just 2.5 per cent higher than it was during the same time last year.

"This means a renter will have paid around $15 more per week in December 2019, than in December 2018."

Latest Barfoot & Thompson rental data. Photo / supplied

Last year, the rate of rent increases fell under 3 per cent for the first time in many years, with figures representing an annual rent rise of around $16/week to $18/week for the average property. The 2018 increase was closer to $20/ week year-on-year, and it was well above $20/week throughout 2017, she said.

Now, she expects a big change in 2020.

Auckland had a considerable range of average rents within particular property sizes and locations across the city, she said.

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"Larger properties in the central and eastern suburbs set renters back over $1000/week on average this quarter, while most one-bedroom properties across the city came in under $400, at an average of $384," she said.

One and two-bedroom homes continued to return higher rent increases compared to the rest of the market. Larger properties had lower increases, something that was likely to persist in the coming year, she said.

South Auckland, Franklin and rural Manukau properties returned the highest rates of increase compared to other areas of the city.

Rodney was the only area to see a higher rate of increase during the last quarter of 2020, moving from 2.2 per cent to 2.8 per cent. Rent growth was lowest in the central and eastern suburbs.

Corporates were last year hunting for America's Cup 2021 accommodation.

Samantha Arnold, Barfoot & Thompson property management general manager, said last May that nearly 60 premium properties were needed, a dedicated portal was established for people to register online and visitors from Britain, Europe, the United States and Asia needed homes as close to the sailing as possible.

Sours: https://www.nzherald.co.nz/business/average-auckland-rents-tipped-to-hit-record-600-a-week-this-year-18week-rise-forecast/LXRM3ZOMKQVHPXQPONC2XC2RYE/

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Auckland rents up nearly 3 per cent: new Barfoot & Thompson data

Auckland rents rose nearly 3 per cent annually, having exceeded $600/week average in April, with some areas becoming more pricey than others.

New data out from Barfoot & Thompson which manages more than 16,500 properties, showed a new $605/week average rent at the end of June.

The biggest rent rise in the last year was south Auckland, up 4.8 per cent to reach an average $554/week.

West Auckland rents rose the second-fastest at 4.2 per cent annually to reach $560/week, followed by Rodney at 4.1 per cent annually to reach $607/week.

Kiri Barfoot, a director of the agency, said increases had mostly hovered around 2 and 3 per cent annually for the past several years, except when the Government froze rents last year.

Rents were hardly moving, she indicated.

"June's figure represents a 0.3 per cent increase on May's average, or around $2 more per week," she said.

Annually, Auckland rents across all suburbs rose 2.9 per cent, which was only around $17 more a week, Barfoot said.

Rental changes. Source: Barfoot & Thompson

"However, what has altered over time are the drivers behind the changes, which can cycle between housing types, sizes, and locations and depend on multiple factors.

"Over the past couple of quarters rents in some of the higher-priced areas, like the Eastern Suburbs and now the North Shore, have become more static, while the lower-priced areas of South Auckland, West Auckland and Rodney are now rising more quickly.

"For example, Rodney has seen significant migration and development recently. Just two years ago it was seeing relatively little movement, under 2 per cent, but is now well over double that rate," she said.

South and west rents had risen at a greater rate than other areas but they remain the lowest-priced regions of the city behind rural Manukau/Franklin, she said.

The typical three-bedroom rental property remains the most popular and available option and has also experienced slightly higher than average weekly rent increases at 3.6 per cent, she said.

Last month, the Herald found relentless rent rises throughout New Zealand.

Auckland edges Wellington as the most expensive city in New Zealand for tenants but rents in the capital have risen more in real terms since 2000, that found.

The trends are visible in a Herald interactive graphic, which uses official Government data adjusted for inflation to track 21 years of rent increases in our most expensive cities.

In early 2000, Auckland's average residential rent was $250/week, according to figures from Tenancy Services, part of the Ministry of Business, Innovation and Employment. Adjusted for inflation, this comes to $388 per week in 2021 dollars.

Today Auckland's average residential rent is $564 per week, which represents a 45 per cent increase in real terms.

Auckland and Wellington suburbs typically have higher rents than the rest of the country. Few suburbs in Christchurch, for example, have average rents over $500 per week, that story found.

No suburb in Queenstown currently has rents over $700 per week, although Kelvin Heights, Warren Park and Lake Hayes exceeded this level in 2019 before Covid struck.

Outside Auckland and Wellington, Tauranga is the area with the most rapidly rising rental prices, but again no suburbs average more than $700 per week.

Renters United has launched a campaign for rent controls, saying the Government must intervene to help society's most vulnerable.

Every tenant has the right to live in a safe, healthy home, pay affordable rent and find a place without discrimination, that organisation says.

Sours: https://www.nzherald.co.nz/business/auckland-rents-up-nearly-3-per-cent-new-barfoot-thompson-data/EV3LBW66IKHAY6P2KE2Y2C5M3I/

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