Every now and then Chase Property Management analyse rental movements in the value of Rodney, North Shore and Auckland’s rental properties. Our Property Managers find rental price movements can be useful for considering how to adjust rents at review periods. These figures are within a narrow range, and we tailor our input data to be in line with the rental property type we are specifically interested in, this is only a part of a bigger number of considerations. (please continue reading below).
|
Year |
|||||
|
Area |
Type |
Bedrooms |
2013 |
2014 |
% Change |
|
(Mean rent) |
|||||
|
Eden Terrace |
Apartment |
2 |
$439 |
$468 |
6.8 |
|
Ellerslie |
House |
3 |
$550 |
$572 |
4.0 |
|
Epsom |
House |
3 |
$689 |
$678 |
-1.7 |
|
Grey Lynn/Arch Hill |
House |
3 |
$691 |
$701 |
1.4 |
|
Harbourside |
Apartment |
2 |
$613 |
$633 |
3.2 |
|
Herne Bay/St Marys |
House |
3 |
$855 |
$885 |
3.4 |
|
Hillsborough |
House |
4 |
$573 |
$534 |
-6.8 |
|
Kingsland |
House |
4 |
$716 |
$819 |
14.4 |
|
Kohimarama |
House |
4 |
$883 |
$841 |
-4.7 |
|
Mission Bay/Orakei |
House |
3 |
$658 |
$618 |
-6.0 |
|
Mt Albert/Owairaka |
House |
3 |
$520 |
$558 |
7.3 |
|
Mt Eden |
House |
3 |
$613 |
$629 |
2.6 |
|
Newmarket |
Apartment |
2 |
$458 |
$467 |
1.9 |
|
Parnell |
Apartment |
2 |
$584 |
$545 |
-6.6 |
|
Parnell |
House |
3 |
$813 |
$806 |
-0.8 |
|
Ponsonby/Freemans Bay |
House |
2 |
$628 |
$623 |
-0.8 |
|
Ponsonby/Freemans Bay |
House |
3 |
$789 |
$760 |
-3.8 |
|
Ponsonby/Freemans Bay |
House |
4 |
$884 |
$947 |
7.1 |
|
Pt Chevalier |
House |
3 |
$615 |
$602 |
-2.2 |
|
Remuera |
House |
3 |
$603 |
$752 |
24.7 |
|
Remuera South/Meadowbank South |
House |
3 |
$582 |
$608 |
4.4 |
|
Royal Oak/One Tree Hill |
House |
3 |
$575 |
$561 |
-2.4 |
|
St Helliers/Glendowie |
House |
3 |
$638 |
$671 |
5.1 |
|
St Johns |
House |
3 |
$542 |
$531 |
-2.1 |
|
St Lukes/Sandringham |
House |
3 |
$537 |
$564 |
5.0 |
|
North Shore |
|||||
|
Albany |
House |
3 |
$487 |
$515 |
5.7 |
|
Albany |
House |
4 |
$629 |
$610 |
-3.0 |
|
Beachhaven/Birkdale |
House |
3 |
$444 |
$484 |
9.0 |
|
Beachhaven/Birkdale |
House |
4 |
$493 |
$588 |
19.2 |
|
Browns Bay |
House |
3 |
$521 |
$540 |
3.6 |
|
Chatswood/Birkenhead/Northcote Point |
House |
3 |
$509 |
$551 |
8.1 |
|
Devonport |
House |
3 |
$660 |
$641 |
-2.7 |
|
East Coast Bays |
House |
3 |
$596 |
$551 |
-7.7 |
|
Glendhu/Glenfield |
House |
3 |
$453 |
$461 |
1.7 |
|
Greenhithe/Unsworth Heights |
House |
3 |
$514 |
$535 |
4.1 |
|
Hillcrest/Northcote |
House |
3 |
$489 |
$520 |
6.4 |
|
North Harbour/Pine Hill |
House |
3 |
$518 |
$571 |
10.3 |
|
North Harbour/Pine Hill |
House |
4 |
$669 |
$639 |
-4.5 |
|
Rothesay/Murrays/Mairangi Bays |
House |
3 |
$576 |
$561 |
-2.5 |
|
Rothesay/Murrays/Mairangi Bays |
House |
4 |
$647 |
$692 |
7.0 |
|
Sunnynook/Westlake |
House |
3 |
$521 |
$531 |
2.0 |
|
Sunnynook/Westlake |
House |
4 |
$630 |
$600 |
-4.8 |
|
Takapuna |
House |
3 |
$578 |
$561 |
-3.0 |
|
Takapuna |
House |
4 |
$874 |
$940 |
7.5 |
|
Torbay |
House |
2 |
$393 |
$401 |
2.3 |
|
Torbay |
House |
3 |
$517 |
$515 |
-0.2 |
|
Wairau Park/Glenfield North |
House |
3 |
$460 |
$462 |
0.4 |
|
Rodney Area |
|||||
|
Gulf Harbour |
House |
3 |
$426 |
$473 |
11.0 |
|
Gulf Harbour |
House |
4 |
$515 |
$513 |
-0.2 |
|
Orewa/Whangaparaoa |
House |
2 |
$378 |
$391 |
3.5 |
|
Orewa/Whangaparaoa |
House |
3 |
$448 |
$463 |
3.3 |
|
Orewa/Whangaparaoa |
House |
4 |
$591 |
$559 |
-5.4 |
|
Rewiti/Kumeu/Riverhead |
House |
3 |
$500 |
$484 |
-3.3 |
|
Wellsford/Warkworth/Helensville |
House |
3 |
$375 |
$398 |
6.0 |
These figures are taken from the Ministry of Business Innovation and Employment (MBIE) geometric mean rents, and don't reflect low or high end properties within each demographic, these are simply an observation of the middle value of the most rented property types in Rodney, North Shore and Auckland.
The rental movements conducted here use information from MBIE who are responsible for bond services, this information is taken from bonds lodged within a quarter period, and is the mean rental value of bonds (mean value being the mathematical middle mark), we observe that rents fluctuate, both up and down in between quarters, so we never rely on this absolutely, but we do find it interesting to watch.
If you have a Rental property type that is not reflected here, we are happy to conduct an rental movement for your property, provided there is sufficient bonds lodged to make it worth your interest and while.
Some areas show fluctuations up or down, and neither reflects a long term trend, it is only a reflection of bonds lodged at two different points in time. We often ponder why rental prices move both up and down, and I would suggest in part that the time of marketing a property for rent plays a role, factors like competition; expectations; vacancy reduction strategies; and many others could be factors.
