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
| 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
| 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.