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I have always been monitoring the rent levels and listing numbers for 2 bedroom units in central Auckland.
1) Mt Wellington for example, always had about 15-24 listings of 2 bedroom units for rent on Trademe since 2010.
Rents for 2 beddy units were about $300-320 in 2010, then after the Christchurch earthquake struck, rents went to $340-360 in 2011. Rents stayed pretty much the same for 2012, then $380 started to creep in in 2013.
Now 2014, listing is at an all time low, between 6 to 10 listing, which is half of what it used to be. Rent asking on trademe is now $400-420 some even $450!
2) Mt Albert for example, listings were around the 10 mark last few years. Rent has always been lacking behind suburbs to the east (maybe some people are stupid enough to believe Mt Albert is west auckland). Rents in 2010 were quite low, maybe $320-350.
Now listing is in single digit, and rents are now $400+.
3) Sandringham too is similar to Mt Albert, rent is around $400, which is low comparing to what is happening in Mt Wellington.
4) Mt Eden is quite a big area and has lots of units for rent always. Rent price in 2011 was about $360-400. Now prices are around the $450 mark, which is nice to see
Units are more the bottom end of the market, but if the bottom is lifting up, I'm sure the nicer 3 beddy houses will rent more too.
1) Mt Wellington for example, always had about 15-24 listings of 2 bedroom units for rent on Trademe since 2010.
Rents for 2 beddy units were about $300-320 in 2010, then after the Christchurch earthquake struck, rents went to $340-360 in 2011. Rents stayed pretty much the same for 2012, then $380 started to creep in in 2013.
Now 2014, listing is at an all time low, between 6 to 10 listing, which is half of what it used to be. Rent asking on trademe is now $400-420 some even $450!
2) Mt Albert for example, listings were around the 10 mark last few years. Rent has always been lacking behind suburbs to the east (maybe some people are stupid enough to believe Mt Albert is west auckland). Rents in 2010 were quite low, maybe $320-350.
Now listing is in single digit, and rents are now $400+.
3) Sandringham too is similar to Mt Albert, rent is around $400, which is low comparing to what is happening in Mt Wellington.
4) Mt Eden is quite a big area and has lots of units for rent always. Rent price in 2011 was about $360-400. Now prices are around the $450 mark, which is nice to see
Units are more the bottom end of the market, but if the bottom is lifting up, I'm sure the nicer 3 beddy houses will rent more too.
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