October 2015 rental report

Auckland rental prices continue to increase steadily, with a 6.4% rise over the past 12 months.

Compared to October 2014, the average weekly rent for one bedroom properties has risen by 4.2% (from $313 to $326), two bedroom by 6.2% (from $389 to $413), three bedroom by 5.5% (from $475 to $501), four bedroom by 6% (from $598 to $634) and five or more bedroom by 4.3% (from $748 to $780).

Growth has been seen across all of Auckland, but the strongest growth was in the Franklin / Manukau Rural area, with a 10% increase seen.

Franklin / Manukau Rural remains the cheapest area to rent, although with the recent increases, it is closing in on South Auckland.

The Auckland-wide average yield has dropped from 3.64% to 3.14% in the past 12 months. This is due to the moderate increase in rental prices versus the considerably higher sales prices.

Average weekly rent received across Auckland

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Number of bedrooms
1 2 3 4 5+
Central Auckland $365 $513 $835  -   -
Central Suburbs $321 $438 $569 $738 $923
Eastern Suburbs $332 $449 $599 $791 $1,065
Franklin/Manukau Rural $277 $313 $399 $502 $672
North Shore $346 $427 $537 $686 $805
Pakuranga/Howick $297 $401 $504 $629 $738
Rodney $300 $384 $472 $600 $701
South Auckland $285 $352 $435 $527 $645
West Auckland $291 $368 $455 $553 $712
Auckland average $326 $413 $501 $634 $780

Number of rental properties by number of rooms

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Number of bedrooms
1 2 3 4 5+
Central Auckland 318 202 21  -  -
Central Suburbs 341 936 954 378 101
Eastern Suburbs 169 472 551 231 68
Franklin/Manukau Rural 31 129 360 219 32
North Shore 80 536 834 408 148
Pakuranga/Howick 23 162 418 275 95
Rodney 47 176 371 196 38
South Auckland 166 540 1054 376 165
West Auckland 99 313 915 244 70
Grand total 1274 3466 5478 2328 718

Source: Barfoot & Thompson new and current tenancies as at 1 November 2015 compared to new and current tenancies as at 1 November 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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