Shore rents take tumble
Rental property prices in Takapuna and Milford have fallen up to 23 per cent on last year.
Monday, April 4th 2005, 8:18AM
by The Landlord
Figures released by the Real Estate Institute and Tenancy Services Bond Centre show the average weekly rent for a four bedroom property in the Takapuna/Milford area fell from $652 in February 2004 to $500 in February in 2005.The average rent for three bedroom properties in the area fell from $480 to $450 per week, and one bedroom properties dropped from $200 to $195.
In contrast, two bedroom properties in the area rose from $300 to $327 per week.
Other areas on the North Shore showed more buoyancy.
Three bedroom properties in East Coast Bays rose from an average of $390 to $400 a week and the same type of property in Glenfield rose from $335 to $340.
Devonport properties rose from $450 to $500 and houses in Browns Bay, Torbay and Albany rose from $360 to $380.
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| « Rental housing changes would drive landlords away | $1m state house rented for $75 » |
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