You're going to have to dig deeper in your pocket for a rental unit, according to the city's two biggest managers. Photo/Doug Sherring
Rents for two- and three-bedroom Auckland properties have risen, according to data released by the city's two biggest property managers.
Information from Crockers and Barfoot & Thompson showed rents are up.
Crockers' March research report just out detailed the trend.
"Auckland rents for a two-bedroom residential property increased from $466/week to $472/week in December, and then to $474/week in January," Crockers said.
That contrasted with a national drop.
"Two-bedroom rents across New Zealand have eased over the same period, with a slight increase to $380 per week in December, off-set by a decrease to $370 per week in January," Crockers said.
"Rents for three-bedroom properties in Auckland increased from $593/week to $599/week over the past two months, while three-bedroom rents across New Zealand has remained steady at $450/week."
Barfoot & Thompson's latest quarterly rental update issued last month also showed average Auckland rents rising.
"Auckland renters paid around 4.4 per cent more on average in the October to December quarter (Q4) of 2016, compared with the same quarter the year before.
"Average weekly rent across all property types and locations in Auckland was $524, up from $502 in Q4 2015," Barfoot said.
"Average rent rose more in South Auckland (6.3 per cent), and slightly less in central Auckland, Franklin/Manukau, and Pakuranga/Howick (2.6 per cent, 3.1 per cent and 3.3 per cent respectively)." .
Read Barfoot's research here:
Demand for bonds may well stay strong, but there's a catch.