2013-14 Auckland North Shore and Rodney Rental Price movement

21-Jul-2014

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.


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