We look at our rental data for the past 12 months and beyond to examine trends for three bedroom properties in Auckland.
In the past 12 months (May 2016 - May 2017), Barfoot & Thompson has sold over 4,000 three bedroom properties, and currently manages over 6,000 three bedroom rental properties.
In the same time period, 37% of Barfoot & Thompson sales have been for three bedroom properties.
The average rental price for three bedroom properties has increased by $21.89. This is an increase of 4.25%.
Three bedroom houses have dropped marginally, from $921,262 to $914,365. This is less than a 1% drop.
Although the price has not risen during the past 12 months, over the past four years, house prices have continued to rise at a greater rate than rentals. The increase between 2014 and 2017 is in excess of 40%, whilst the increase in rentals for the same period is 15%.
Rental prices show an even increase of between 4% and 5% per annum, whereas house prices fluctuate month to month and year to year.
South Auckland and Franklin / Manukau remain the cheapest areas to both rent and buy in, though house prices are lower in South Auckland, and rental rates are lower in Franklin / Manukau.
