Median rents have increased sharply in Auckland and Wellington over the last year but haven’t changed at all in Christchurch, according to the latest figures from Building & Housing.
They show that the median rent for three bedroom houses in Auckland was $580 week in June, up by $30 a week compared to June last year, while the median rent for two bedroom flats in Auckland was $420 in June, up $25 a week over the same period.
The median rent for both three bedroom houses and two bedroom flats in Auckland has increased by $60 a week since June 2012 (see table below).
In Wellington the median rent for three bedroom houses increased by $20 a week over the last year, from $470 in June last year to $490 in June this year, while the median rent for two bedroom flats in the capital increased by $25 a week over the same period, from $340 a week in June last year to $365 last month.
However in Christchurch the median rents for both three bedroom houses and two bedroom flats were the same in June as they were in June last year, with houses stuck on $450 a week and flats on $340.
That means the median rent on a three bedroom house in Auckland is now $90 a week more than it is in Wellington and $140 a week more than it is in Christchurch.
Building & Housing collates the rent data from the tenancy bonds it receives each month, so the rent figures mainly relate to newly tenanted properties.
Throughout the country Building & Housing received 32,303 bonds in the three months to June, which was up 4.6% compared to the same period last year.
See the table below for the median rents in Auckland, Wellington and Christchurch since June 2012.
Median Rents June 2012 – June 2015
|June 2012||June 2013||June 2014||June 2015|
|Auckland 3 brm House||$520||$540||$550||$580|
|Auckland 2 brm Flat||$360||$375||$395||$420|
|Wellington 3 brm House||$465||$455||$470||$490|
|Wellington 2 brm Flat||$320||$330||$340||$365|
|Christchurch 3 brm House||$367||$415||$450||$450|
|Christchurch 2 brm Flat||$260||$300||$340||$340|
|Source: Building & Housing – MBIE|
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