Remuera rent rises trump nationwide levels

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The average weekly rent for a three-bedroom property in Remuera has risen 25% in the year to November 2011, against a 3% rise nationwide.

Friday, December 16th 2011, 12:00AM

by The Landlord

The figures were revealed in the latest Crockers Auckland rental price table.

While nationwide in the year to November 2011 average median weekly rents remained relatively stable, up 5% for four bedroom properties, 3% for three-bedrooms, 2% for two and no change for one-bedroom, across the Auckland region there were some large fluctuations.

Remuera saw the largest rent rise for three-bedroom properties, up 25% from $600 to $750, with double-digit rises in eight other suburbs (One Tree Hill/Ellerslie, Epsom, Mt Eden, Mt Roskill, Sandringham, Grey Lynn/Westmere, Takapuna/Milford, Birkenhead and Glenfield).

City Bays recorded the largest fall in the three-bedroom market, down 8% from $630 to $580.

Of the 30 suburbs included in the three-bedroom market figures, 27 saw rises and just three saw falls in average rents.

Remuera also saw the largest year-on-year average rent rise in the two-bedroom market, up 27% from $395 to $500.

The largest fall in the two-bedroom market was recorded in Pukekohe, down 4% from $270 to $260.

Of the 30 suburbs included in the two-bedroom market figures, 24 saw rents rise, two saw falls and four remained at year-earlier levels.

In the one-bedroom market Te Atatu saw the largest rent rise, up 27% from $205 to $260, while the largest fall was in Epsom, down 19% from $300 to $242.

Of the 24 suburbs included in the one-bedroom data, 15 saw rents rise, seven falls and two remained at November 2010 levels.

East Coast Bays saw the largest rent rise for four-bedroom properties, up 24% from $560 to $695. The largest fall was recorded in Mt Eden, down 14% from $675 to $582.

There were 22 suburbs with figures for four-bedroom rents, with 12 showing gains on last year, seven falls and one remaining the same.

 

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