September 2015 rental report
Auckland rental prices experienced a moderate increase of 6.4% over the last 12 months.
Compared to September 2014, the average weekly rent for one bedroom properties has risen by 4.5% (from $311 to $325), two bedroom by 6.4% (from $388 to $413), three bedroom by 5.5% (from $473 to $499), four bedroom by 5.7% (from $599 to $633) and five or more bedroom by 5.3% (from $746 to $786).
Franklin / Manukau Rural has increased by 9.2% in the past 12 months, and South Auckland and West Auckland by 7.2% This would indicate pressure on areas that are further away from the central city, as renters are prepared to travel further to get more affordable rentals.
Even with this upward pressure, Franklin Manukau Rural remains the cheapest area to rent across all bedroom sizes.
Central Auckland remains the most expensive area to rent smaller homes (one, two and three bedroom properties), while the Eastern Suburbs continue to have the highest priced large properties, with four bedroom properties receiving an average of $786, and five+ bedroom properties receiving $1069.
Average weekly rent received across Auckland
| Number of bedrooms | |||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5+ | |
| Central Auckland | $362 | $513 | $835 | - | - |
| Central Suburbs | $320 | $436 | $567 | $735 | $950 |
| Eastern Suburbs | $331 | $449 | $596 | $786 | $1,069 |
| Franklin/Manukau Rural | $276 | $312 | $397 | $502 | $646 |
| North Shore | $345 | $428 | $538 | $690 | $812 |
| Pakuranga/Howick | $297 | $401 | $504 | $627 | $738 |
| Rodney | $300 | $383 | $469 | $594 | $714 |
| South Auckland | $286 | $351 | $432 | $526 | $644 |
| West Auckland | $289 | $368 | $454 | $560 | $718 |
| Auckland average | $325 | $413 | $499 | $633 | $786 |
Number of rental properties by number of rooms
| Number of bedrooms | |||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5+ | |
| Central Auckland | 315 | 204 | 21 | - | - |
| Central Suburbs | 345 | 927 | 951 | 375 | 98 |
| Eastern Suburbs | 171 | 469 | 546 | 234 | 66 |
| Franklin/Manukau Rural | 31 | 127 | 357 | 218 | 32 |
| North Shore | 81 | 530 | 848 | 399 | 146 |
| Pakuranga/Howick | 23 | 162 | 411 | 270 | 95 |
| Rodney | 47 | 175 | 370 | 192 | 35 |
| South Auckland | 166 | 537 | 1032 | 373 | 160 |
| West Auckland | 94 | 309 | 901 | 243 | 65 |
| Grand total | 1273 | 3440 | 5437 | 2305 | 698 |
Source: Barfoot & Thompson new and current tenancies as at 1 October 2015 compared to new and current tenancies as at 1 October 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.