A closer look at Auckland city apartments

The apartment market in Auckland city is growing and changing. If you’re considering purchasing an apartment, or already own one, here are some of the trends we’re observing.

Who is renting our inner-city apartments and when?

Demand for Auckland city apartments is highest in January / February, with a secondary spike in July / August. This is largely due to the influx of students, preparing for the start of the college / university term.

Apartments are also popular with travellers and backpackers arriving in New Zealand, often on a one-year visa and during the early summer months.

"Because around 80% of our stock is furnished, an apartment is a great option for students or travellers, who arrive in the city and need a place to find their feet," says Property Manager, Tracey Boyle.

"While a large portion of tenants who rent our apartments is transient, the requirement for signing a fixed six-month or 12-month lease, ensures apartments are not sitting empty during term breaks."

"This is reassuring for landlords, who may worry about downtime for their rental investment."

Number of new tenancies by month - Auckland city

Chart showing the number of new tenants living in Auckland city apartments by month

How is the apartment market changing?

"We are seeing a new trend towards tenants staying longer in our inner city apartments," says Tracey.

"This also reflects the trend towards more apartments being owner-occupied.

"The other trend we're seeing, is for landlords to spend time and money renovating older apartments. By bringing them up to a modern standard, they have the potential to command an extra $50 in rent per week. In the city apartment market, landlords need to do this in some cases to remain competitive.

Modern technology gives tenants more flexibility

Tenants can now quickly and easily view rental properties on our website, choose a viewing time that suits them and book it in.

"The ability to book viewing appointments online has made searching for a new rental property much easier for tenants," Tracey says.

Want to know more about the Auckland city apartment scene?

Call, email or pop in to our City branch and have a chat with one of our team.

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