The average three bedroom rental property has increased by 4.4% in the past 12 months.
Compared to January 2014, the average weekly rent for one bedroom properties has risen by 3% (from $305 to $314), two bedroom by 4.2% (from $377 to $393), three bedroom by 4.4% (from $460 to $480), four bedroom by 3.6% (from $585 to $606) and five or more bedroom by 7.3% (from $708 to $760).
The three bedroom property average has increased by $20 in the past 12 months - a change of 4.4% (from $460 per week to $480).
Central Auckland still receives the highest rent for one, two, three and five + bedroom properties. The Eastern Suburbs have the highest average rent for four bedroom properties.
Rental prices for five + bedroom properties in the Eastern Suburbs have increased by more than any other group - from an average of $967, to an average of $1105 - an increase of 14.3%.
Franklin Manukau remains the cheapest area, across all property sizes, with average rent ranging from $271 for one bedroom properties, to $586 for five + bedroom properties. This is 32% less than the highest average rent for one bedroom properties (in Central Auckland), and 113% less than the highest average rent for five + bedroom properties (again in Central Auckland).
Source:Barfoot & Thompson new and current tenancies as at 1 February 2015, compared to new and current tenancies as at 1 February 2014. Excludes Northland and Commercial. Suburbs with less than four tenancies not included.
For more information contact a property manager or to find out how much rent you can achieve, ask for a rental appraisal.