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Auckland residential property returns exceed 7%

Real estate agency Bayleys confirms investment in Auckland residential property is paying dividends with net returns on purchase price now exceeding 7%.

Wednesday, March 13th 2002, 7:46PM

by Jenny Ruth

Bayleys says the properties it manages have occupancy rates between 95% and 98% with demand particularly evident for city and city fringe apartments and terrace houses in Ponsonby, Herne Bay, Parnell, Newmarket and Remuera.

"While the last 12 months has seen little movement in apartment and terrace house prices, a growth in rentals has resulted from a shortage of quality properties to rent," it says.

It also notes that along with the traditional tenants, students, professional singles and couples, there’s growing demand from over 45 year olds to rent city apartments. "This group has seen the family leave home and has feed up equity to pursue leisure activities."

It provides four examples of properties it manages where the purchase price ranged from $149,950 to $239,000 and rentals range from $270 $400 a week. Net returns, based on 49 weeks annual occupancy and taking into account body corporate levels, currently range from 7.4% to 8.04%, it says.

As to who is investing in apartments, Bayleys Research says investors still account for more than half the apartments being sold in Auckland, but that’s well down on a year ago when they accounted for nearly nine in 10 buyers.

In particular, studio apartments now account for less than 10% of sales, down from 25% two years ago, reflecting the strengthening of the owner-occupier part of the market.

« WestpacTrust changes its mortgage calculatorsWizard writes nearly $40 million a month in Kiwi mortgages »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 4.44 - - -
AIA - Go Home Loans 6.74 4.99 4.99 5.35
ANZ 6.69 5.59 5.59 5.89
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 4.99 4.99 5.29
ASB Bank 6.64 4.99 4.99 5.35
ASB Better Homes Top Up - - - 1.00
Avanti Finance 7.15 - - -
Basecorp Finance 7.50 - - -
BNZ - Classic - 5.99 5.69 5.69
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 6.79 - - -
BNZ - Rapid Repay 6.79 - - -
BNZ - Std 6.69 5.55 5.29 5.59
BNZ - TotalMoney 6.79 - - -
CFML 321 Loans 5.25 - - -
CFML Home Loans 6.95 - - -
CFML Prime Loans 7.45 - - -
CFML Standard Loans 8.25 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 4.89 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 6.20 4.99 4.99 5.39
Co-operative Bank - Standard 6.20 5.49 5.49 5.89
Credit Union Auckland 7.70 - - -
First Credit Union Special - 5.49 5.39 -
First Credit Union Standard 6.94 5.99 5.69 -
Heartland Bank - Online 6.25 5.89 - -
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 7.65 ▼5.95 5.80 -
ICBC ▼6.50 4.99 4.99 5.39
Kainga Ora 6.89 5.29 4.99 5.35
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 6.50 5.89 5.89 6.39
Kiwibank - Offset 6.50 - - -
Kiwibank Special 6.50 4.99 4.99 5.59
Liberty 6.90 6.80 6.50 6.45
Nelson Building Society 7.19 5.24 4.97 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank 6.74 ▼5.59 ▼5.59 5.95
SBS Bank Special - ▼4.99 ▼4.99 5.35
SBS Construction lending for FHB - - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 4.19 ▼4.29 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 8.89 - - -
TSB Bank 7.44 5.79 5.79 6.19
TSB Special 6.64 4.99 4.99 5.39
Unity 6.64 5.29 4.99 -
Unity First Home Buyer special - 4.69 - -
Wairarapa Building Society 6.95 ▼5.29 4.99 -
Westpac 6.74 5.59 5.59 5.79
Westpac Choices Everyday 6.84 - - -
Westpac Offset 6.74 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 4.99 4.99 5.19
Median 6.79 5.29 5.14 5.49

Last updated: 2 May 2025 9:07am

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