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15-06-2011

Auckland City Centre rents down 31% over year to May, Crockers

Landlords.co.nz

The average median rent for a one-bedroom property in Auckland City Centre fell 31% in the year to May, while a four-bedroom property in One Tree Hill/Ellerslie saw its rent increase by 31%, according to the latest Crockers Auckland rental price table.

While nationwide rents for one, two, three and four bedroom properties all rose over the year to May, up 5%, 2%, 3% and 5% respectively, within Auckland the Crockers data revealed some extreme fluctuations across property size and areas.

The four bedroom market saw the largest rise, with a property in One Tree Hill/Ellerslie up 31% from $520 to $680.

The largest fall in the four bedroom market was seen in Mt Roskill, where rents fell 13% from

$565 to $490.

Of the 24 locations included in the four bedroom market, 16 saw rents rise, seven saw falls and one location saw rents remain the same as last year.

In the three bedroom market the highest yearly rent rise was seen in Browns Bay/Torbay/Albany, up 12% from $430 to $480.

The largest fall was in Remuera, down 24% from $700 to $535.

Of the 30 locations included in the table 23 saw rents rise, five saw falls and two remained at May 2010 levels.

For two bedroom properties Remuera saw the largest rent rise over the year, up 22% from $370 to $450.

Birkenhead saw the largest fall, down 5% from $350 to $377.

Of the 29 locations included, 24 saw rents rise, three saw falls and two locations stay the same.

The largest rent rise in the one bedroom market was seen in Birkenhead, up 24% from $234 to $290.

The largest fall was recorded in the City Centre, down 31% from $320 to $220.

Source: Landlords.co.nz

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