The Steady Rise Of Rents – And Not Before Time

Property: Rents in Auckland rise up to 10%

Renters are paying up to $60 more a week than they were a year ago for properties across some of Auckland’s 30 suburbs.

Prices for all suburbs have gone up for two and three-bedroom properties according to figures from Crockers.

Yvette Martin and her flatmates pay $640 a week. Photo / Nick Reed

The property management company looked at median prices over the six months to February 2015, compared with the same period last year.

In Devonport, rents for two- and three-bedroom houses have increased on average $60 per week, to $495 (up 13 per cent) and $678 (up 10 per cent) respectively. The next biggest increases were in Takapuna and Milford, up 10 per cent for two-bedroom houses to $531 per week.

There were also big rises in Meadowbank, Glendowie and Remuera South where two and three-bedroom rentals have increased 9 per cent, up to $450 and $653 per week respectively.

Read the rest here:

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11425034

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