In the last 12 months, the average price for Auckland three bedroom properties increased by 17.5%, with rent increasing by just 4.26%.
The average price for three bedroom properties increased from $658,959 in June 2014, to $774,411 in May 2015 (17.5%).
In the same time period, average weekly rent across Auckland increased from $469 in June 2014 to $489 in May 2015 (4.26%).
12 month change in average house price and average rental
Greatest increase seen in lower priced areas
The increase in rentals has been greater in the lower priced areas - South Auckland, West Auckland and Franklin Manukau - suggesting renters are looking further afield to find rental properties.
The highest average rent was for three bedroom apartments in the Central City. At $852 per week, this is down slightly from this time last year ($877), but still considerably higher than any other areas and property types.
*Please note, a change in how we process data is the reason behind the extreme change here.