Market property rent update.
Our Quarterly Rental Update is now available.
The latest quarter showed the average weekly rent for a home in Auckland reached $642.28 at the end of June, up 3.37 percent or $20.95 on the same time last year.
The change is in keeping with the pace of increases recorded over the previous two years, which ranged between 2.97 and 3.35 percent.
Two very different parts of the city stood out in the data drawn from more than 17,000 rental properties across the region:
the Franklin/rural Manukau area with a 6.59 percent rise in its average weekly rent; and
the City Centre with a 5.86 percent rise.
The Franklin and rural Manukau area has seen higher than typical price increases since mid-2022 and is likely in a cycle of adjusting to increasing demand.
In the City Centre, the apartment market only regained its strength last quarter as workers, students and tourists returned at scale following the pandemic.
The recent influx of workers, students and working holidaymakers to Auckland is putting increasing pressure on an already historically short supply here and we anticipate this will continue for some time.
Poll: Do you think banning gang patches is reasonable?
With the government cracking down on gangs, it is now illegal for gang members to display their insignia in public places whether through clothing or their property.
This means arrests can be made if these patches are worn in places like restaurants, shops, on public transport or ferries, and on airplanes. Arrests were made recently at a funeral.
Do you think this ban is reasonable?
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76.9% Yes
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22.2% No
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0.9% Other - I'll share below
Think I was scammed today
Hi everyone just a warning that I think I got scammed today. Went in to buy an extension cord came out with 4 pillows 3 sheet sets. 6 new towels. A frying pan a toaster. A electric jug. Dinner plates knife fork and spoon set it seems like they put everything on special and made the lay out off the store so I had to walk past everything before I got to the product I went into buy. Watch the Black Friday deals
What's your favourite recipe for courgettes?
Kia ora neighbours. If you've got a family recipe for courgettes, we'd love to see it and maybe publish it in our magazine. Send your recipe to mailbox@nzgardener.co.nz, and if we use it in the mag, you will receive a free copy of our January 2025 issue.
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