Auckland rents keep lurching up

Last month, the first in the second quarter, average weekly rents rose 2.8% year-on-year.

In the first quarter the average weekly rent increased by 2.3% on the same time last year, reaching $599, Barfoot & Thompson’s latest research shows.

For three-bedroom homes, which make up the majority of Auckland’s rental stock, the average rent reached $603 per week in March 2021 – $19 or 3.3% more than in March 2020.

Director Kiri Barfoot says the figures are yet to reflect the impact of recently announced changes to the bright-line test or interest cost deductions for residential rental property income.