January 2015 rental report

The average three bedroom rental property has increased by 4.4% in the past 12 months.

Compared to January 2014, the average weekly rent for one bedroom properties has risen by 3% (from $305 to $314), two bedroom by 4.2% (from $377 to $393), three bedroom by 4.4% (from $460 to $480), four bedroom by 3.6% (from $585 to $606) and five or more bedroom by 7.3% (from $708 to $760).

The three bedroom property average has increased by $20 in the past 12 months - a change of 4.4% (from $460 per week to $480).

Central Auckland still receives the highest rent for one, two, three and five + bedroom properties. The Eastern Suburbs have the highest average rent for four bedroom properties.

Rental prices for five + bedroom properties in the Eastern Suburbs have increased by more than any other group - from an average of $967, to an average of $1105 - an increase of 14.3%.

Franklin Manukau remains the cheapest area, across all property sizes, with average rent ranging from $271 for one bedroom properties, to $586 for five + bedroom properties. This is 32% less than the highest average rent for one bedroom properties (in Central Auckland), and 113% less than the highest average rent for five + bedroom properties (again in Central Auckland).

Average weekly rent received across Auckland

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No of Bedrooms
1 2 3 4 5+
Central Auckland $359 $493 $852 - -
Central Suburbs $306 $414 $553 $701 $938
Eastern Suburbs $316 $421 $576 $759 $1105
Franklin/Manukau Rural $271 $292 $379 $476 $586
North Shore $335 $415 $520 $657 $764
Pakuranga/Howick $285 $382 $486 $599 $701
Rodney $288 $370 $448 $576 $707
South Auckland $273 $333 $407 $501 $624
West Auckland $284 $353 $435 $534 $679
Auckland average
$314 $393 $480 $606 $760

Number of rental properties by number of rooms

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No of Bedrooms
1 2 3 4 5+
Central Auckland 293 184 21 1 1
Central Suburbs 329 907 904 357 90
Eastern Suburbs 170 430 505 204 55
Franklin/Manukau Rural 45 125 344 204 33
North Shore 80 529 802 370 126
Pakuranga/Howick 22 160 393 259 82
Rodney 41 166 336 172 31
South Auckland 151 509 970 335 138
West Auckland 92 282 846 204 61
Grand Total 1223 3292 5121 2106 617

Source:Barfoot & Thompson new and current tenancies as at 1 February 2015, compared to new and current tenancies as at 1 February 2014. 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.

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