Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Rental Update

Hi

Rental Update

Recent rent rises in Auckland do not amount to a "massive price hike" and are only following an annual pattern.

Rents in Central Auckland have risen to an average of $322 a week for a one-bedroom property. This is an increase of 7 per cent from last year, according to figures released by the Real Estate Institute of New Zealand.

However, every year in history, these January, February, March months are the busiest of the year.

This shortage is believed to be caused by "supply and demand", caused in part by relocations – particularly families moving into good school zones.

The regular influx of students coming back to study has also pushed demand higher, particularly in the inner city. Anywhere that surrounds schools at this time of the year is always busy.

The rise in immigration has also played its part. A lot of students coming into New Zealand for university take apartments and contribute to the city growth.

Rents have gone up but in most cases branches are increasing only $15 to $20.

Generally, a 10 per cent increase is considered fair, especially in cases where landlords have improved their rental properties.

Rents have crept up gradually, but "not by huge leaps and bounds" despite what the media may report.

My question for you is are you getting the correct rent for your investment? If you would like me to review it for you or supply you the statistics for you suburb please respond to this email with what you would like.

Regards,
Adam Thomson


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news