This information is provided by Andrew King from Andrew King Property Services
http://www.andrewking.co.nz/rental-price-statistics/
Thank you Andrew for making this information available.
Summary:
Comparing rental prices of 103 areas for the three months to March in 2009 with 2008, there were 67 price increases and 33 price decreases while 3 areas had no change at all. Over-all, rental prices rose by 1.1%, so a small increase.
Devonport had the largest increase at 27% while Wellington Central had the largest decrease at 9.6%.
Article Follows.
Rental prices
A study into the rental market shows that rental prices are holding up quite well considering the large increase in rental properties being advertised to-let. In another Andrew King Property Management Services study, the number of properties available for letting on Trade-me last year increased from 7,500 to 13,250 from April to December.
The number of properties to-let decreased to 12,000 since the beginning of 2009, although this trend has been reversed over the past few weeks and the number advertised is now 12,500.
Our study used Bond Centre rental price data to compare the rental prices of 103 areas for the three months to March 2009 with the same period for 2008. Overall, rental prices increased by 1.1%, with 67 areas having rental price increases and 33 declines. Three areas had no change in rental prices.
While the three month period is better than monthly, due to a larger pool of data, the statistics can still be quite volatile, so the information should be used as a guide only. If you think the rental price of your rental propertyhas changed, you would be advised to undertake more research to confirm what the true market rent really is.
Graphs showing rental price changes for thirteen main regional areas over the past two years are presented after the following table which details full results of the study.
Rental price comparison for 2009 and 2008
| Area | 3 months to March 2008 |
3 months to March 2009 |
Percentage change |
| Whangarei | $ 262 | $ 263 |
0.6% |
| Orewa/Whangararaoa | $ 362 | $ 353 |
-2.5% |
| Browns Bay / Torbay / Albany | $ 407 | $ 396 |
-2.7% |
| East Coast Bays | $ 453 | $ 452 |
-0.2% |
| Glenfield / Beachaven / Forrest Hill | $ 375 | $ 363 |
-3.1% |
| Birkenhead | $ 391 | $ 388 |
-0.6% |
| Takapuna | $ 437 | $ 487 |
11.5% |
| Devonport | $ 372 | $ 473 |
27.1% |
| West Auckland | $ 320 | $ 322 |
0.5% |
| Te Atatu / Westgate / West Harbour | $ 342 | $ 347 |
1.3% |
| Avondale / Waterview | $ 358 | $ 351 |
-2.1% |
| City Centre | $ 327 | $ 342 |
4.6% |
| Ponsonby | $ 447 | $ 453 |
1.5% |
| Grey Lynn / Westmere | $ 452 | $ 443 |
-1.8% |
| Mt Albert / Pt Chev | $ 356 | $ 380 |
6.8% |
| Sandringham / Three Kings / Hillsborough | $ 343 | $ 357 |
3.9% |
| Mt Roskill | $ 353 | $ 362 |
2.4% |
| Mt Eden | $ 343 | $ 348 |
1.5% |
| Epsom | $ 377 | $ 377 |
-0.2% |
| One Tree Hill | $ 347 | $ 356 |
2.6% |
| City Bays | $ 482 | $ 465 |
-3.5% |
| Remuera | $ 469 | $ 488 |
4.1% |
| Remuera South / Meadowbank / Glendowie | $ 432 | $ 440 |
1.9% |
| Glen Innes / Mt Wellington | $ 323 | $ 317 |
-2.1% |
| Howick / Botony | $ 407 | $ 427 |
4.7% |
| Pakuranga | $ 381 | $ 388 |
2.0% |
| Mangere / Otara | $ 305 | $ 312 |
2.4% |
| Papatoetoe | $ 296 | $ 312 |
5.4% |
| Manukau City / Manurewa | $ 317 | $ 323 |
1.9% |
| Papakura | $ 310 | $ 298 |
-3.8% |
| Waiheke Island | $ 340 | $ 323 |
-4.8% |
| Pukekohe | $ 294 | $ 300 |
2.0% |
| Hamilton North | $ 355 | $ 343 |
-3.3% |
| Hamilton West | $ 283 | $ 287 |
1.2% |
| Hamilton Central | $ 260 | $ 257 |
-1.3% |
| Hamilton East | $ 287 | $ 288 |
0.6% |
| Cormandel Peninsular | $ 245 | $ 253 |
3.4% |
| Tauranga | $ 297 | $ 297 |
0.0% |
| Mt Maunganui | $ 313 | $ 310 |
-1.1% |
| Papamoa | $ 327 | $ 314 |
-3.9% |
| Whakatane | $ 253 | $ 255 |
0.8% |
| Rotorua | $ 210 | $ 223 |
6.3% |
| Taupo | $ 264 | $ 270 |
2.3% |
| Gisborne | $ 227 | $ 240 |
5.6% |
| Napier Central | $ 270 | $ 267 |
-1.2% |
| Napier South | $ 278 | $ 278 |
0.0% |
| Taradale | $ 281 | $ 295 |
5.1% |
| Hastings | $ 240 | $ 242 |
0.7% |
| Havelock North | $ 322 | $ 312 |
-3.1% |
| Bell Block / Waitara | $ 232 | $ 253 |
9.4% |
| New Plymouth Proper | $ 278 | $ 293 |
5.4% |
| South Taranaki | $ 205 | $ 213 |
4.1% |
| Wanganui | $ 185 | $ 182 |
-1.6% |
| Northern Palmerston North | $ 242 | $ 246 |
1.8% |
| Hokowhitu | $ 253 | $ 263 |
3.9% |
| Central Palmerston North | $ 207 | $ 218 |
5.3% |
| Southern Palmerston North | $ 245 | $ 247 |
0.7% |
| Levin | $ 194 | $ 202 |
4.0% |
| Masterton | $ 207 | $ 218 |
5.6% |
| Upper Hutt | $ 265 | $ 261 |
-1.6% |
| Northern Lower Hutt | $ 283 | $ 298 |
5.3% |
| Southern Lower Hutt | $ 302 | $ 316 |
4.6% |
| Wainuiomata | $ 270 | $ 273 |
1.2% |
| Kapiti Coast | $ 296 | $ 310 |
4.8% |
| Porirua | $ 284 | $ 285 |
0.4% |
| Johnsonville / Tawa | $ 337 | $ 353 |
5.0% |
| Khandallah/Ngaio/Wadestown | $ 363 | $ 383 |
5.5% |
| Karori & Kelburn | $ 380 | $ 410 |
7.9% |
| Wellington Central | $ 400 | $ 362 |
-9.6% |
| Haitaitai – Brooklyn | $ 352 | $ 392 |
11.6% |
| Kilbirnie – Island Bay | $ 353 | $ 377 |
6.6% |
| Miramar | $ 410 | $ 455 |
11.0% |
| Blenheim | $ 283 | $ 291 |
2.6% |
| Nelson Central | $ 276 | $ 283 |
2.5% |
| Tahunanui / Stoke | $ 312 | $ 311 |
-0.5% |
| Richmond | $ 322 | $ 322 |
0.0% |
| Golden Bay/Motueka | $ 267 | $ 298 |
11.9% |
| Westcoast | $ 197 | $ 217 |
10.2% |
| Christchurch Central | $ 277 | $ 282 |
1.6% |
| Avondale/Avonside/Burwood/Parklands/New Brighton | $ 312 | $ 295 |
-5.3% |
| Linwood Aranui Bexley/Bromley | $ 247 | $ 238 |
-3.4% |
| Sydenham/Waltham Woolston | $ 260 | $ 270 |
4.0% |
| Casmere/Beckenham/Huntsbury/Opawa/St Martins | $ 298 | $ 293 |
-1.7% |
| Addington/Somerfield/Speydon/Hillmorton/Hoon Hay | $ 280 | $ 290 |
3.5% |
| Riccarton | $ 316 | $ 322 |
1.9% |
| Hornby/Islington/Broomfield | $ 307 | $ 309 |
0.8% |
| Merivale/Fendalton/Ilam | $ 317 | $ 315 |
-0.5% |
| Avonhead/Burnside/Harewood/Bishopdale | $ 330 | $ 336 |
1.7% |
| Northcote / Redwood | $ 318 | $ 303 |
-4.7% |
| St Albans/Richmond/Shirley | $ 278 | $ 275 |
-1.2% |
| Rangiora / Kaiapoi | $ 291 | $ 290 |
-0.2% |
| Ashburton | $ 253 | $ 247 |
-2.6% |
| Timaru | $ 197 | $ 211 |
6.8% |
| Oamaru | $ 188 | $ 213 |
13.3% |
| Dunedin Central | $ 216 | $ 232 |
7.7% |
| North Central / University | $ 235 | $ 253 |
7.8% |
| Dunedin Hills | $ 283 | $ 289 |
2.0% |
| Inland Dunedin | $ 269 | $ 262 |
-2.8% |
| South Dunedin / Waverly | $ 245 | $ 248 |
1.4% |
| Mosgiel | $ 258 | $ 249 |
-3.6% |
| Queenstown | $ 355 | $ 350 |
-1.4% |
| Gore | $ 140 | $ 150 |
7.1% |
| Invercargill | $ 185 | $ 193 |
4.5% |
| ALL | $ 300 | $ 303 |
1.1% |