Market property rent update.
Our Quarterly Rental Update is now available.
The latest quarter showed the average weekly rent for a home in Auckland reached $642.28 at the end of June, up 3.37 percent or $20.95 on the same time last year.
The change is in keeping with the pace of increases recorded over the previous two years, which ranged between 2.97 and 3.35 percent.
Two very different parts of the city stood out in the data drawn from more than 17,000 rental properties across the region:
the Franklin/rural Manukau area with a 6.59 percent rise in its average weekly rent; and
the City Centre with a 5.86 percent rise.
The Franklin and rural Manukau area has seen higher than typical price increases since mid-2022 and is likely in a cycle of adjusting to increasing demand.
In the City Centre, the apartment market only regained its strength last quarter as workers, students and tourists returned at scale following the pandemic.
The recent influx of workers, students and working holidaymakers to Auckland is putting increasing pressure on an already historically short supply here and we anticipate this will continue for some time.
Poll: Should all neighbours have to contribute to improvements?
An Auckland court has ruled a woman doesn’t have to contribute towards the cost of fixing a driveway she shares with 10 neighbours.
When thinking about fences, driveways or tree felling, for example, do you think all neighbours should have to pay if the improvements directly benefit them?
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82.3% Yes
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15% No
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2.7% Other - I'll share below
What's your favourite recipe for courgettes?
Kia ora neighbours. If you've got a family recipe for courgettes, we'd love to see it and maybe publish it in our magazine. Send your recipe to mailbox@nzgardener.co.nz, and if we use it in the mag, you will receive a free copy of our January 2025 issue.
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