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.
For more information contact a property manager or to find out how much rent you can achieve, ask for a rental appraisal.