October 2018 rental report
Find out how the average rent for different-sized Auckland properties has changed over the past year.
- The increase in rents across Auckland has slowed this year.
- The average weekly rent for a three bedroom home is $17 higher than it was 12 months ago, which is an increase of 3.2%.
- Large rent increases in Central City three apartments can be attributed to the addition of luxury apartments to the rental portfolio.
- Landlords will be relieved that potential yields are increasing (as prices soften) considering pending compliance costs.
Average weekly rent received across Auckland
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Number of bedrooms | |||||
---|---|---|---|---|---|
1 | 2 | 3 | 4 | 5+ | |
Central Auckland | $410 | $578 | $1,117 | 590 | 883 |
Central Suburbs | $381 | $504 | $639 | $811 | $1,053 |
Eastern Suburbs | $383 | $518 | $670 | $901 | $1,069 |
Franklin/Manukau Rural | $311 | $369 | $450 | $560 | $650 |
North Shore | $401 | $482 | $598 | $743 | $914 |
Pakuranga/Howick | $344 | $458 | $560 | $678 | $801 |
Rodney | $353 | $441 | $538 | $665 | $814 |
South Auckland | $311 | $410 | $501 | $603 | $725 |
West Auckland | $330 | $429 | $516 | $623 | $749 |
Auckland average | $372 | $473 | $563 | $697 | $859 |
Number of rental properties by number of rooms
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Number of bedrooms | |||||
---|---|---|---|---|---|
1 | 2 | 3 | 4 | 5+ | |
Central Auckland | 381 | 245 | 27 | 2 | 3 |
Central Suburbs | 399 | 1,053 | 1,130 | 487 | 163 |
Eastern Suburbs | 201 | 590 | 688 | 318 | 88 |
Franklin/Manukau Rural | 68 | 181 | 606 | 392 | 57 |
North Shore | 98 | 563 | 976 | 504 | 198 |
Pakuranga/Howick | 23 | 216 | 494 | 319 | 114 |
Rodney | 60 | 240 | 483 | 268 | 85 |
South Auckland | 201 | 688 | 1,279 | 517 | 201 |
West Auckland | 113 | 421 | 1085 | 366 | 102 |
Grand total | 1,544 | 4,197 | 6,768 | 3,173 | 1,011 |
Source: Barfoot & Thompson analysis of its tenancies as at 1 Nov 2018 and its sales over the last six months for three bedroom properties. Gross yield is calculated using the average sales price and average rental per week for three bedroom properties. Suburbs with less than four tenancies or four sales for three bedroom properties with Barfoot & Thompson are not included.
For more information, contact a property manager, or to find out how much rent you can achieve, ask for a rental appraisal.