January 2015 rental report
The average three bedroom rental property has increased by 4.4% in the past 12 months.
Compared to January 2014, the average weekly rent for one bedroom properties has risen by 3% (from $305 to $314), two bedroom by 4.2% (from $377 to $393), three bedroom by 4.4% (from $460 to $480), four bedroom by 3.6% (from $585 to $606) and five or more bedroom by 7.3% (from $708 to $760).
The three bedroom property average has increased by $20 in the past 12 months - a change of 4.4% (from $460 per week to $480).
Central Auckland still receives the highest rent for one, two, three and five + bedroom properties. The Eastern Suburbs have the highest average rent for four bedroom properties.
Rental prices for five + bedroom properties in the Eastern Suburbs have increased by more than any other group - from an average of $967, to an average of $1105 - an increase of 14.3%.
Franklin Manukau remains the cheapest area, across all property sizes, with average rent ranging from $271 for one bedroom properties, to $586 for five + bedroom properties. This is 32% less than the highest average rent for one bedroom properties (in Central Auckland), and 113% less than the highest average rent for five + bedroom properties (again in Central Auckland).
Average weekly rent received across Auckland
| No of Bedrooms | |||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5+ | |
| Central Auckland | $359 | $493 | $852 | - | - |
| Central Suburbs | $306 | $414 | $553 | $701 | $938 |
| Eastern Suburbs | $316 | $421 | $576 | $759 | $1105 |
| Franklin/Manukau Rural | $271 | $292 | $379 | $476 | $586 |
| North Shore | $335 | $415 | $520 | $657 | $764 |
| Pakuranga/Howick | $285 | $382 | $486 | $599 | $701 |
| Rodney | $288 | $370 | $448 | $576 | $707 |
| South Auckland | $273 | $333 | $407 | $501 | $624 |
| West Auckland | $284 | $353 | $435 | $534 | $679 |
| Auckland average |
$314 | $393 | $480 | $606 | $760 |
Number of rental properties by number of rooms
| No of Bedrooms | |||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5+ | |
| Central Auckland | 293 | 184 | 21 | 1 | 1 |
| Central Suburbs | 329 | 907 | 904 | 357 | 90 |
| Eastern Suburbs | 170 | 430 | 505 | 204 | 55 |
| Franklin/Manukau Rural | 45 | 125 | 344 | 204 | 33 |
| North Shore | 80 | 529 | 802 | 370 | 126 |
| Pakuranga/Howick | 22 | 160 | 393 | 259 | 82 |
| Rodney | 41 | 166 | 336 | 172 | 31 |
| South Auckland | 151 | 509 | 970 | 335 | 138 |
| West Auckland | 92 | 282 | 846 | 204 | 61 |
| Grand Total | 1223 | 3292 | 5121 | 2106 | 617 |
Source:Barfoot & Thompson new and current tenancies as at 1 February 2015, compared to new and current tenancies as at 1 February 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.