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18-10-2011

Birkenhead rents continue to rise

Landlords.co.nz

 

The average median rent for a one-bedroom property in Birkenhead has soared 42% in the year to September 2011, while the same size property in Epsom has seen rents fall 24% over the same period.
 
The figures are revealed in the latest Crockers Auckland rental price table.
 
While nationwide in the year to September 2011 average median weekly rents remained relatively stable - down 2% for one-bedroom property and up 1% for two and three bedrooms - across the Auckland region there were some large fluctuations.
 
While Birkenhead (up from $240 to $340) and Epsom (down from $330 to $250) saw the largest movements over the year, other locations to see significant movement include Mt Roskill (up 17%) and Orewa (down 17%).
 
Of the 26 locations included in the one-bedroom figures, 17 saw rents rise, seven saw falls and two remained at year earlier levels.
 
Unusually, the two bedroom market saw rents rise across all 31 suburbs included in the figures, with the largest increase seen in Devonport, up 25% from $355 to $445.
 
Other regions to see double-digit growth in two-bedroom rents included Sandringham (up 19%) and the City Centre (up 17%).
 
The smallest rises were recorded in Remuera and Te Atatu, both up 2%.  
 
Within the three-bedroom market the largest rise was seen in Grey Lynn/Westmere, up 20% from $600 to $720.
 
The largest falls were seen in Ponsonby and Remuera, both down 13% from $750 to $655 and $700 to $610 respectively.
 
Of the 31 locations included in the three-bedroom figures, 27 saw rents rise while four saw falls.
 
The largest rise in the four-bedroom market, which saw a nationwide increase of 6% in rents, was recorded in Te Atatu, up 25% from $465 to $580.
 
The largest fall was in Papakura, down 14% from $440 to $380.
 
Of the 25 locations included in the four-bedroom figures, 19 saw rents rise, five saw falls and one remained at year earlier levels.

Source: Landlords.co.nz

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