January 2019 rental report
Find out how the average rent for different-sized Auckland properties has changed over the past year.
- Average rent has increased by 3.2% in the last 12 months. This is down from the average 5% increase that we have seen in recent years.
- Particularly weak rental growth continues for larger properties with 4 or 5 bedrooms, with annual increases of 1.7% and 1.5% respectively.
- Three bedroom properties continue to dominate our portfolio, making up 40% of our properties.
Average weekly rent received across Auckland
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| Number of bedrooms | |||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5+ | |
| Central Auckland | $411 | $602 | $1,085 | $590 | $908 |
| Central Suburbs | $384 | $510 | $645 | $817 | $1,068 |
| Eastern Suburbs | $388 | $522 | $681 | $905 | $1,101 |
| Franklin/Manukau Rural | $312 | $373 | $454 | $563 | $656 |
| North Shore | $400 | $488 | $605 | $747 | $900 |
| Pakuranga/Howick | $350 | $461 | $567 | $684 | $806 |
| Rodney | $358 | $446 | $544 | $667 | $828 |
| South Auckland | $312 | $417 | $504 | $606 | $733 |
| West Auckland | $331 | $433 | $518 | $624 | $748 |
| Auckland average | $375 | $480 | $568 | $701 | $866 |
Number of rental properties by number of rooms
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| Number of bedrooms | |||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5+ | |
| Central Auckland | 387 | 261 | 31 | 2 | 3 |
| Central Suburbs | 409 | 1,049 | 1,135 | 496 | 162 |
| Eastern Suburbs | 205 | 599 | 678 | 328 | 90 |
| Franklin/Manukau Rural | 70 | 180 | 596 | 398 | 56 |
| North Shore | 100 | 556 | 967 | 498 | 193 |
| Pakuranga/Howick | 22 | 214 | 500 | 322 | 111 |
| Rodney | 61 | 241 | 492 | 277 | 87 |
| South Auckland | 201 | 682 | 1,264 | 527 | 198 |
| West Auckland | 108 | 418 | 1,079 | 375 | 108 |
| Grand total | 1,563 | 4,200 | 6,742 | 3,223 | 1,008 |
Source: Barfoot & Thompson analysis of its tenancies as at 31 Jan 2019 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.