{"id":1300,"date":"2024-09-21T04:29:00","date_gmt":"2024-09-21T04:29:00","guid":{"rendered":"https:\/\/wordpress-1174581-4858335.cloudwaysapps.com\/?page_id=1300"},"modified":"2024-09-21T04:29:00","modified_gmt":"2024-09-21T04:29:00","slug":"auckland-rental-market-update-may-2022","status":"publish","type":"page","link":"https:\/\/360propertymanagement.co.nz\/?page_id=1300","title":{"rendered":"Auckland Rental Market Update \u2013 may 2022"},"content":{"rendered":"

May 2022 Update<\/h2>\n

Proudly presenting the latest residential rental data as supplied by the Real Estate Institue of New Zealand (REINZ).<\/p>\n

In some Auckland areas, we\u2019re seeing the median weekly rent return to the levels we experienced at the same time last year. Or, in some cases, even noting Auckland rents decreasing.<\/p>\n

In May of 2022, the average weekly rent for one-bedroom rental properties in Auckland City Centre was $367. Compare this to $401 in May last year and you\u2019ll see a 9.2% decrease in rent prices.<\/p>\n

In Devonport, the median rent for a two-bedroom was $495 per week, down from $600 the year previous.<\/p>\n

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May 2022 Update<\/h2>\n
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A Note from us,<\/h2>\n

As a result of rising interest cost, we expected to see an influx of investors increasing the rents across their portfolios over the next year. However, this number has fallen to an all-time low since June 2021 with only 5.7% of investors looking to increase rent.<\/p>\n

Many landlords report it is progressively harder to find good tenants, reflected in their desire to keep their current tenants rather than seek new ones.<\/p>\n

Rents are showing a slight decrease due to an influx of available rental stock, competition of vacant properties across Auckland, and landlords wanting to fill their properties faster. Other parts of the country are also facing similar changes.<\/p>\n

For more information, please get in touch with your property manager today.<\/p>\n

Request an updated rental appraisal<\/h2>\n

Would you like to know how much rent to charge or what rental income your rental property could generate? Please contact our property management team for a complimentary rental appraisal.\u00a0<\/p>\n

We analyse current rental figures in your area and provide an estimate of the current market value for your property.\u00a0<\/p>\n

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\n\t\t\t\t\t\t\t\t\tRequest an updated rental appraisal here.
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Why work with 360 Property Management?
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Our expert team draw on extensive market knowledge and statistics to set the correct rent rate from the outset, which we revise with annual rent reviews. Our property managers can also provide advice on how to maximise rent.<\/p>\n

We have a\u00a0dedicated leasing agent\u00a0who works evenings and weekends, meaning your property will be in front of the right prospective tenants. We use professional photos, presenting your property in the best possible light.<\/p>\n

Do you know the value of your investment property?
\n<\/h2>\n

As an investor, we believe it is important to know what is happening in the property market and how this is affecting the current market value of your investment property.<\/p>\n

We work alongside one of the top sales teams in the industry who have access to the latest residential sales data. Our agents can provide you with a free valuation.<\/p>\n

If you do choose to sell, we can offer you a discounted rate if you want to list and sell your property through one of our affiliated ray white offices. The benefit of listing with us as we have a relationship with the sales team and work collaboratively making the transaction smooth and easy for all parties<\/p>\n

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\n\t\t\t\t\t\t\t\t\tClick here to contact our sales team.
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Recommended blog posts,<\/h2>\n
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Please Note: These market rent statistics have been provided by the Real Estate Institute of New Zealand. The data has been derived from information gathered from bonds lodged at the Ministry of Business Innovation and Employment (MBIE) \u2013 Tenancy Bond Services.<\/p>\n

However, these results may not be a true representation of the entire housing market. They are only a reflection of rental properties where bonds have been lodged at the MBIE \u2013 Tenancy Bond Services.<\/p>\n

This report is two months in arrears as per the data provided by MBIE. Removing the most recent month of data provides a more complete and accurate picture of all bonds lodged. This is because the most recent month\u2019s data is incomplete. This is due to the time taken between a bond being lodged (23 working days) and the database being updated. Visit the real estate institute of New Zealand website here to see the latest real estate data.<\/p>\n","protected":false},"excerpt":{"rendered":"

May 2022 Update Proudly presenting the latest residential rental data as supplied by the Real Estate Institue […]<\/p>\n","protected":false},"author":13,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-1300","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/360propertymanagement.co.nz\/index.php?rest_route=\/wp\/v2\/pages\/1300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/360propertymanagement.co.nz\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/360propertymanagement.co.nz\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/360propertymanagement.co.nz\/index.php?rest_route=\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/360propertymanagement.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1300"}],"version-history":[{"count":0,"href":"https:\/\/360propertymanagement.co.nz\/index.php?rest_route=\/wp\/v2\/pages\/1300\/revisions"}],"wp:attachment":[{"href":"https:\/\/360propertymanagement.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}