Rental prices continue to rise

Apr 16, 2018 | Uncategorised

“There have been so many cost and regulatory increases over the last few years that it isn’t a surprise that rental prices are increasing as they are” said NZPIF Executive Officer Andrew King. “Unfortunately the situation looks likely to continue.”

In order to remove monthly variations, the NZ Property Investors’ Federation has averaged three months of rental prices for the year ended March 2018 and compared this to the same period in 2017.

Overall, rental prices are up 6.1% to $433 per week. This is a higher price rise than during the last two years when rental prices increased 3.4% in the year to March 2017 and 3% in the year to March 2016.

Hutt Valley had the largest increase at 17.1% to $413pw. However this area can be quite volatile due to low numbers of new rentals. Porirua was next with an 11.6% increase to $407pw, although Porirua statistics can also be quite volatile. Wellington Central rents increased by 6.8% showing that the region overall had the highest rental price increases.

Nelson saw the third highest rental price rises at 9.2% to $382.

Auckland rental increases ranged from 4.2% in Waitakere to 5.2% on the North Shore.

Twelve of the 17 main areas had rental price increases below the national average, indicating that rental price increases in the regions are growing quite strongly.

In Christchurch, rental price falls over the last few years appear to have bottomed out. While the 3.8% increase in Christchurch rental prices to $386 is lower than the national average, it is the first time that rental prices have shown an increase since 2014.

People can calculate the market rental price for their rental property at www.nzpif.org.nz, which also graphs how rents have changed over the last 12 years.

% increase

Rent PW

North Shore

5.2%

$ 578

Waitakere

4.2%

$ 493

Auckland

3.7%

$ 555

Manukau

4.6%

$ 490

Papakura

3.4%

$ 471

Hamilton

4.8%

$ 381

Tauranga

5.7%

$ 430

Napier

6.5%

$ 380

Palmerston North

0.0%

$ 297

Upper Hutt

5.5%

$ 368

Hutt Valley

17.1%

$ 418

Porirua

11.6%

$ 407

Wellington

6.8%

$ 500

Nelson

9.2%

$ 382

Christchurch

3.8%

$ 386

Dunedin

0.5%

$ 325

Invercargill

4.1%

$ 257

New Zealand Total

6.1%

$ 433

Recent articles

Annual Report

CHA’s Annual Report for 1st July 2019 to 30th June 2020

CHA’s Annual Report for 1st July 2019 to 30th June 2020

Strategic Plan

CHA’s Strategic Plan 2018

CHA’s Strategic Plan 2018

Featured Network

Residential Tenancies Act Community of Practice

Residential Tenancies Act Community of Practice

Our Place

Our Place 2017

Our Place 2017

Case Studies

Media Releases

The Shift Aotearoa conference 2021 issues papers released

Community Housing Aotearoa’s three pre-conference work programmes are kicking off next week with initial zoom meetings in the Narrative Transformation and Housing System Settings streams scheduled for Tuesday 26 January at 10AM and 1PM respectively. Issues papers to...

News

CHA Level 4 Guidance Document 8 September

CHA Level 4 Guidance Document 8 September Community Housing Aotearoa (CHA) has put together this document to consolidate information, contacts, resources and advice to help you in your day to day service delivery and decision making. It will be updated as new...

Community Housing Aotearoa (CHA) COVID-19 Update 26 August 2021

Message from CHA's Chief Executive, Productivity Commission Submission - Include Housing in the Terms of Reference, CHA's support for members, sharing ideas and issues, Ministry of Health information and advice, Government support for your organisation, important...

Newsletters

Community Housing Aotearoa (CHA) Newsletter 12 October 2021

Message from Chief Executive, Fortnightly Sector Zoom Calls, Tenancy Management Community of Practice, Ngāti Toa Secures A Deal To Ensure High Quality, Healthy And Affordable Homes At Kenepuru Landing, More Progressive Home Ownership Opportunities for First Home...

Community Housing Aotearoa (CHA) Newsletter 4 October 2021

Message from Chief Executive, SUPPORT FOR MEMBERS, Be part of 'The Big Auckland Morning Tea Shout' for Auckland's frontline community workers, HUD launches new interactive housing dashboard, Submissions close tomorrow on new legislation for restricting terminations...

Submissions

Legislation

Reports

Te Whakaruruhau Report

The Te Whakaruruhau Report establishes the peak body services to the Homelessness Sector by Te Matapihi he Tirohanga mō te IwiTrust and Community Housing Aotearoa. The report can be found here: Te Whakaruruhau September 2020

Research

BRANZ research report on ‘exceeding the minimum’ released

This report looks at the question: why don’t landlords choose features that exceed the minimum building standards and what are the enablers to changing this? The aim is to identify the barriers to an improved rental stock and potential solutions to overcome the...

Community Housing Aotearoa

Contact Us

Contact Info

Level 11, Ranchhod Tower,
39 The Terrace /
102-112 Lambton Quay
PO Box 11543
Wellington 6142

+04 385 8722

support@communityhousing.org.nz

Follow On