Spotlight on central city apartments

We take a look at our data around Auckland city apartments to observe some emerging trends.

Demand increases for inner city apartments

Over the year, we have seen the number of inner city apartments that Barfoot & Thompson is letting increasing. This February saw the greatest number of inner city apartments being newly tenanted than ever before in a single month. 

"The inner city apartment market is continuing to charge along, with strong rental demand across the range of property types. Most in demand are 1 and 2 bedroom apartments with a car park," says Sandra Forrester, Branch Manager of our City office

"The demand for corporate rentals is also strong, with enquiry from overseas driving strong demand for $1,500/pw + properties in the CBD and immediate city fringe."

Lifestyle advantages attract tenants to area

The lifestyle advantages of living centrally is a major draw for people to the area, says Sandra. 

"Quality of life for those living in the city is becoming more and more appealing as Auckland grinds to a halt during peak hour traffic hours. Being able to walk home in 10 minutes versus sitting in traffic for an hour each way has a huge impact on quality of life."

Apartment living has the added bonus of little to no maintenance, garden or lawns to worry about. 

Representing value for money

Rent for one and two bedroom city apartments has gone up minimally - only 4% in the past year.

In the past 12 months, on average for apartments in the city compared to apartments elsewhere in Auckland:
  • A one bedroom apartment in the city costs $16 more per week.
  • A two bedroom apartment in the city costs $40 more per week.

City apartment living represents good value in comparison to apartments elsewhere in Auckland, taking into consideration reduced costs for transport, maintenance, and car parking. In addition, some apartments can give you access to a gym and pool, and are generally more modern than equivalent townhouses in the suburbs. 

"The CBD is a thriving and exciting place to live, with Auckland Council working hard towards providing an international living experience," says Sandra. 

quarterly graph