Auckland reclaims top spot as most expensive place to rent
Auckland has reclaimed the top spot as the country's most expensive place to rent after the Bay of Plenty overtook Tāmaki Makaurau in December, according to Trade Me's latest rental price index.
Trade Me's Gavin Lloyd said: "Average median rent in Auckland went up by 3 per cent compared to last month, reaching a high of $680 per week whilst the Bay of Plenty market dropped by 3 per cent to $650 per week.
"The increase in Tāmaki Makaurau was driven by the North Shore City which recorded an uptick of 4.2 per cent to $720 a week and Waitakere City which is up 2.3 per cent to $665 a week."
The data also showed New Zealand rental prices overall have increased for the second month in a row.
The national median weekly rent in New Zealand has jumped to $630 for the month of January, up 0.8% compared to December last year.
Lloyd said the first month of 2024 could be a "telling sign" of the year ahead.
"Renters were for the most part sheltered from any major price increases for rental properties at the end of 2023 but this may change if the Reserve Bank decides to raise the official cash rate next week in their first meeting of the year.
“As borrowing costs rise, landlords may face increased expenses, and some could pass on these costs to tenants through higher rents.
"This change might make it a bit tougher for renters with the rising cost of living and lack of properties available giving them fewer options when searching for a property," Lloyd said.
Southland retains its status as the most affordable place to rent in New Zealand, with a median price of $450 per week, a slight increase of $10 from December.
The report also included rent for townhouses and apartments, which have climbed to "record highs".
The median weekly rent for an apartment in New Zealand peaked at $560 per week in January and townhouses reached $665 per week.
In Auckland specifically, townhouses also reached an all time high of $730, up 5% compared to the same time last year. Units in Christchurch also saw a jump, up 12.5%, making the median rent $450.
"As net migration is almost at an all time high more people are coming into the country looking for entry level rentals like apartments and townhouses — especially as they are more prevalent in our city centres.
"This increase in demand is likely putting pressure on the supply and impacting prices," Lloyd said.
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Poll: Would you want an unconventional funeral?
Funerals can cost as much as $22,000 and the planning can be stressful especially at a time when loved ones are grieving. Some New Zealanders are re-imagining funerals by making their own coffin or having a relaxed ceremony at home. Would you want a less traditional funeral? Share your thoughts below.
Type 'Not For Print' if you wish your comments to be excluded from the Conversations column of your local paper.
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84.1% Yes
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13.9% No
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1.9% Other - I'll share below!
Lost cat - Mt Eden
Still missing my girl 😔
Evie is a 14 year old grey tortie - quite pretty colouring (mainly grey with caramel) with some cream on her chest. No white on her at all. She has been missing since 16 November, 2023.
Please take a screenshot of this post so you have photos and my number handy in case you see her.
She likes people but might not let you pick her up so please take a video or photo if you see her and call me asap on 021 072 0933 (Anna).
She’s quite lean and small to medium size. When she’s happy she ‘talks’ ❤️ De-sexed and microchipped.
Last seen in Mont Le Grand Rd, Mt Eden. Please check your garage, shed, garden and under deck and house.
Apparently cats who are hiding don’t meow so please look carefully even if you don’t hear her. Thank you so much 🙏
Downsizing Your Home
There are numerous reasons people decide to downsize. For example, often when kids have all grown up and you don’t feel like maintaining a large house anymore, moving to a smaller home or even an apartment where you have no maintenance to do, can be an attractive option.
Declutter room by room and learn the extraordinary feeling of lightness that a purge can bring.
When you buy boxes to pack everything into, we recommend using corrugated cardboard which is stronger. You should also pick appropriately sized boxes. Small boxes for small heavy items, and larger boxes for light bulky items. We have many options for packaging and can help you plan your packing.
mtroskillshop.kiwiselfstorage.co.nz...
Sorting through everything you’ve accumulated in your life takes time. You don’t want to rush this process and regret throwing or giving away items that were important or sentimental to you. At the same time, you don’t want the process to drag on and prevent you from moving on.
Self Storage can help with the process.
By using a self storage unit, you’ll be able to store your excess belongings and sort through them in your own time. This will allow you to take the time to sort through additional items after you’ve made the move.
Our local storage facility staff are also just a phone call away to help you decide. They are more than happy to run through your requirements and point you in the right direction. They are the experts that figure out self storage requirements day in and day out, and can even offer advice around the local removal companies if you need a hand with the shift.
For downsizing we often actually recommend hiring 2 smaller storage units instead of a larger one. This way you are able to organize items you plan on getting rid of into one, and items you want to keep into the other. Then once you’ve sold you items you can get rid of the second storage unit without having to worry about shuffling the remaining belongings you want to keep into a smaller unit.
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We have a handy location in Mt Roskill, Auckland. Call now or contact us via our website. Use our 3D storage visualiser or calculator to work out how much storage you need.
Mt Roskill
09 625 6161
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