December 2015 rental report
The average rent for a property in Auckland has increased by $31, or 6.6% over the past 12 months, from $473 to $504.
Compared to December 2014, the average weekly rent for one bedroom properties has risen by 5.1% (from $313 to $329), two bedroom by 6.9% (from $391 to $418), three bedroom by 5.6% (from $477 to $504), four bedroom by 6% (from $601 to $637) and five or more bedroom by 4.9% (from $755 to $792).
South Auckland and Franklin/Manukau Rural have shown the greatest increase in the past 12 months, with South Auckland rent increasing by 8% and Franklin/Manukau Rural by 9.3%. Despite this increase, Franklin/Manukau remains the cheapest place to rent in Auckland, followed by South Auckland.
The Eastern Suburbs and North Shore have shown a slight decline in the past month (less than 1%), but remain the most expensive area to rent in Auckland (the Eastern Suburbs, followed by the North Shore).
With the lower value areas increasing at a faster rate than other areas, and a marginal drop in the higher-priced areas, we are seeing tenants being prepared to move around to get the right property for their budget.
Average weekly rent received across Auckland
| Number of bedrooms | |||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5+ | |
| Central Auckland | $366 | $522 | $838 | - | - |
| Central Suburbs | $323 | $441 | $572 | $747 | $938 |
| Eastern Suburbs | $333 | $456 | $604 | $786 | $1,067 |
| Franklin/Manukau Rural | $278 | $318 | $405 | $509 | $664 |
| North Shore | $349 | $431 | $538 | $682 | $813 |
| Pakuranga/Howick | $299 | $406 | $509 | $628 | $769 |
| Rodney | $309 | $384 | $473 | $601 | $751 |
| South Auckland | $292 | $355 | $437 | $535 | $652 |
| West Auckland | $293 | $375 | $458 | $555 | $712 |
| Auckland average | $329 | $418 | $504 | $637 | $792 |
Number of rental properties by number of rooms
| Number of bedrooms | |||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5+ | |
| Central Auckland | 321 | 208 | 21 | 1 | 1 |
| Central Suburbs | 357 | 917 | 972 | 383 | 98 |
| Eastern Suburbs | 166 | 477 | 554 | 239 | 72 |
| Franklin/Manukau Rural | 28 | 129 | 360 | 218 | 31 |
| North Shore | 85 | 538 | 834 | 412 | 149 |
| Pakuranga/Howick | 22 | 168 | 415 | 287 | 97 |
| Rodney | 48 | 181 | 361 | 212 | 41 |
| South Auckland | 161 | 539 | 1018 | 370 | 167 |
| West Auckland | 104 | 328 | 913 | 255 | 71 |
| Total | 1292 | 3485 | 5448 | 2377 | 727 |
Source: Barfoot & Thompson new and current tenancies as at 1 January 2016 compared to new and current tenancies as at 1 January 2015. Excludes Northland and Commercial. Suburbs with less than four tenancies not included.
For more information contact a property manager or to find out how much rent you can achieve, ask for a rental appraisal.
