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Rent in Some Auckland Suburbs Dropping
Rental Property August 28, 2018

Rents in some Auckland suburbs dropping

Marmite, or vegemite?
Whanganui, or Wanganui?
Pavlova with kiwifruit, or strawberries?

There’s a few things us Kiwis can’t seem to agree on. But with recent skyrocketing rents and house prices, one thing most of us can agree is that housing is expensive in New Zealand!

It’s always been a hot topic in politics, and something we read about in the news on the regular. And rightly so – it’s something that affects all of us, and rental affordability has been at an all time low. A recent government report found that four in five renters cannot afford to comfortably pay their rent in New Zealand, and that general housing affordability was getting worse – particularly in Auckland.

So it’s welcome news that rents in some Auckland suburbs are dropping, shown in an NZ Herald analysis of the latest rental bonds. The last year has seen rental price drops in a number of central, higher end suburbs, as well as pockets across Auckland.

Auckland suburbs with dropping average rental prices:

Q2 2017 – Q2 2018

North Shore

Glendhu   – 9%
Browns Bay    – 8%
Windy Ridge    – 8%
Ocean View    – 7%
Crown Hill    – 6%
Northcote South    – 6%
Birkdale North    – 3%
Sunnynook   – 3%

Central

Grey Lynn West    – 19%
Surrey Crescent    – 18%
St Lukes    – 16%
Sandringham East    – 14%
One Tree Hill Central    – 13%
Sandringham North    – 12%
Auckland Harbourside    – 11%
Onehunga South West    – 10%
Mt Eden East    – 9%
Mt Albert Central    – 7%
Epsom Central    – 7%
Ellerslie South    – 7%
Newmarket    – 6%
Balmoral    – 5%

South
Favona    – 17%

East
Orakei North    – 9%

West
Roberton    – 25%
Green Bay    – 23%
Crum Park    – 7%
Glenavon    – 7%
Kelston Central    – 5%
Rosebank    – 4%
Glen Eden    – 3%
Ranui North    – 2%

Moving soon? Regardless of falling rent, the costs of moving can quickly add up!
With MoveSmart, you can move now and pay later –  spread the costs of bond, advance rent and letting fee across the year. Get pre-approved while you’re house hunting so you can move in, quick smart.

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