Slow down in average Auckland rents

Year-on-year, to the of end September the Auckland average of $626.08 a week is up $20 (3.35%) from last year’s $605.77 for the 16,500 properties managed by Barfoot & Thompson, the city’s biggest real estate agency.

Barfoot & Thompson director Kiri Barfoot says it is a slower rate of increase than recorded in the previous two quarters. “However, looking over the past year, the city continues to follow its well-established pattern of rents, rising by about 3% annually.

What is particularly visible in the data are the differences in price movements across the city.

Rents have been steady in the central suburbs and fringes of the city, with increases between 0.02 and 2.23%. The lowest average increase was just 11 cents a week for a central city apartment, for example.