A 20 year review on average weekly rental
We took a look at our data over the past 20 years to examine trends in the average weekly rental across Auckland.
In July 1998, the average weekly rental was $268. Interestingly in the same year,the Sky Tower had only recently been opened and New Zealand had their first Female Prime Minister.
Over the past 20 years average weekly rental has made a 104% increase, sitting at $547 in July 2018.
Across differing regions in Auckland the increase in rental price has varied. Auckland City had the most expensive average rental per week until 2014 when Northshore took over as the highest priced area.
Over the past 20 years average weekly rental has made a 104% increase, sitting at $547 in July 2018.
Across differing regions in Auckland the increase in rental price has varied. Auckland City had the most expensive average rental per week until 2014 when Northshore took over as the highest priced area.
Rodney has seen the greatest increase in the past 20 years with an overall increase of 136%.
Although Auckland City has seen the least increase in the period, it still shows a healthy 96% increase.
Available yield data only goes back 16 years, and over this period we can see a drop from 4.12% to 3.12%, a considerable drop due to the increased average cost of buying property in Auckland. (In the 16 year period, house prices increased by 135%).