Auckland rents are outstripping wages and rising faster than inflation

[flyernzl]

The Herald takes a break between fawning Paul Holmes stories to publish a take on the rental property market:

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10861294

Pity that the longer term picture is only mentioned well down in the article
'For quite a lot of that last 12 years, rents have actually increased at a much slower pace than CPI'

Certainly, compared to the value of the house, rents have halved over the last 20 years.

[Perry]

Right. A shame the relevant paragraphs did not get more emphasis.

ASB chief economist Nick Tuffley said that for quite a lot of that last 12 years,
rents have actually increased at a much slower pace than CPI ... but the times
when we have seen rents lift relatively sharply have coincided with a housing
supply shortage.

[NovInvestor]

around this time of every year, this kind of article always pop up.

Mt wellington, Mt albert, Mt Eden rents for units have not increased this year compared to last.

[blurt]

around this time of every year, this kind of article always pop up.

Mt wellington, Mt albert, Mt Eden rents for units have not increased this year compared to last.

I can say with 100% certainty that 2 bdr units in Mt Wellington have gone up by around $20 per week in the last 12 months, we are now starting to see units for $370 per week, infact there were two unremakable 2bdr units listed yesterday for $395. Trademe

[NovInvestor]

I can say with 100% certainty that 2 bdr units in Mt Wellington have gone up by around $20 per week in the last 12 months, we are now starting to see units for $370 per week, infact there were two unremakable 2bdr units listed yesterday for $395. Trademe

Yes but will they be rented for $395? Asking price and final 'purchase' price are two different things, but good luck to them if they can rent that high!

http://www.trademe.co.nz/Browse/CategoryAttributeSearchResults.aspx?search=1&mcat=0350-5748-&sidebar=1&132=FLAT&selected135=7&selected136=315&134=1&135=7&136=315&153=&29=Unit&122=2&122=2&59=0&59=0&178=0&178=0&sidebarSearch_keypresses=0&sidebarSearch_suggested=0

I always keep this search on my browser.

Look at the number of sub-$350 listings....

[mrsaneperson]

Personally i have not seen any real evidence of rents going up in the south & east areas of Auckland. They have remained very static for the last 5 years.