Market rent analysis
Updated: 21 December 2011
National rents generally steady
In November 2011, the average weekly rent for new private tenancies in New Zealand was $333, a rise of 2.8% from November 2011. This follows a rise of 1.9% in both October and September 2011 compared to the same months in 2010.
Overall, national rents have remained steady, with very modest rental increases observed in various regions (see figures 19a and 19b).
In November 2011, the average weekly market rent for:
- Central Auckland was $444, a rise of 7.8% from November 2010
- North Auckland was $430, a fall of 0.9% from November 2010
- South Auckland was $395, a rise of 6.5% from eptember 2010
Source: Department of Building and Housing
Wellington market rents remain down from year-ago levels. The average weekly rent for November 2011 was $398, a 4.1% fall from November 2010 (Figure 19b).
Market rents in Christchurch have slightly increased in November 2011 by 1.7% compared to November 2010.
In November 2011, the average weekly market rent in the other major centres for:
- Christchurch was $305, a rise of 1.7% from November 2010
- Dunedin was $355, a rise of 9.5% from November 2010
- Hamilton was $296, a rise of 2.4% from November 2010
Source: Department of Building and Housing
Dwelling-type breakdown
In November 2011, the average weekly market rent for:
- one-bedroom flats was $237, a rise of 3% from November 2010
- two-bedroom flats was $305, a rise of 2.3% from November 2010
- two-bedroom houses was $281, a fall of 0.4% from November 2010
- three-bedroom houses was $343, a rise of 3.3% from November 2010
- four-bedroom houses was $448, a rise of 3.9% from November 2010
Source: Department of Building and Housing