Landlords not passing on higher costs: Barfoot
The Auckland real estate agency said the average rent in force for a three-bedroom property on its books in Auckland in March was $464 a week.
“We have seen a steady, moderate increase in rental prices across Auckland, which is good news for the tenants,” said director Kiri Barfoot.
“It would be easy to make the assumption that higher property costs across Auckland would be passed on through the rental market, but this is not happening. Landlords have long recognised the value in retaining good long-term tenants."
She said prices would start to rise as the demand for property in Auckland increased.
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