10 AUGUST 1, <strong>2016</strong> Real Estate & Mortgage finance Quarterly Auckland rental update Rents continue to increase by approximately 5% year-on-year with the average weekly rent for a 3-bedroom Auckland home now $514 Suburb pricing trends continue but Mt Albert, Parnell and Sandringham break the mold with 11+% year-on-year increases Reminder for winter maintenance and comfort measures ahead of prespring upswing Higher Auckland house prices are not flowing through directly into the rental market, with the city’s average weekly rents continuing to follow a more tempered trend of year-on-year increases of around 5%. The average weekly rent for a three bedroom home in Auckland during the April to June quarter was $514, up less than 1% on last quarter and 4.8% on the same quarter in 2015. “Three bedroom rentals make up around 40% of our managed properties, making them a good measure of the market,” says Barfoot & Thompson Director Kiri Barfoot. “Other property categories generally follow the same trend, albeit at lower or higher price points depending on the number of bedrooms.” One bedroom properties averaged $335 per week (up 5% from $319 in the April to June quarter 2015), and two bedrooms $428 (up 6.2% from $403), while 4 bedroom homes brought in $648 (up 4.2% from $622) and 5+ bedroom homes averaged $801 (up 4.8% from $764). Suburb trends Pricing trends continued across the suburbs as well, with the Central Auckland apartment market remaining the most expensive for smaller properties of one, two or three bedrooms, and the Eastern suburbs maintaining position as the most expensive for four or more bedrooms. “Outside the city apartment market, it continued to be a story of two halves for Auckland’s North and South this quarter too,” says Ms Barfoot. South Auckland rental properties saw the greatest percentage increase year-on-year for the quarter of 6.8%, while North Shore rental prices experienced the least percentage increase (not including Central Auckland), only rising 3.7 %.” Rental hot spots Looking more closely at rental data from the first two quarters of this year compared to the last two quarters of 2015 (January to June <strong>2016</strong> and July to December 2015), three suburbs broke the mold with three bedroom rental averages increasing 11% or more. These were Mt Albert up 14.7%, Parnell up 11.7% and Sandringham up 11.6%. “These areas are centrally located but still offer the benefits of suburban living, making them popular choices. “These areas are fast becoming popular as the ‘new central suburbs’, the next Ponsonby and Grey Lynns if you will, and our data suggests continued future growth particularly for Mt Albert and Sandringham.” Winter maintenance and comforts Ms Barfoot says the company anticipates a pre-spring upswing in rental activity during the coming quarter, when they typically see a slight increase in new letting. “While not as pronounced as summer spikes, we often find a number of tenants are eager to move on from properties during the cold winter months and as we head into spring. “It’s therefore a good time to remind landlords to keep on top of winter maintenance and look at ways to make their homes more comfortable with affordable heating, insulation and so on. “In addition to meeting some new legislation requirements early, these are the sorts of things that help keep tenants in a property longer, or make a home more attractive for those looking to rent in the coming months.” Get $300 of TLC for your rental property Sign up for 12 months of expert property management with us by 31 <strong>August</strong> and your rental property will enjoy $300 worth of maintenance. Find out more at www.barfoot.co.nz/TLC Our Stunning New Home Range is Available to Purchase Now Whether you are looking at: First home Investment Commercial Loan Renovating Office 3Natasha Lane, Western Heights Henderson, Auckland 0612 Upsizing Growing your Business Refinancing Personal Loan GrowFast Partners can help you find the right loan for you! Sunil Kaushal, RFA Director,GrowFast Partners Limited Postal address P.O. Box 21 309 Henderson, Auckland 0650 Ph: (09) 390 4189 |Cell: 021 280 4189 Email: sunil@growfast.co.nz |web: www.growfast.co.nz Acopy of my Disclosure Document is available upon request and free of charge. Are you thinking about buying a new home, but, are struggling to find something that meets your needs, at a price you can afford? Did you know, it can be cheaper to build a new home than it is to buy an existing home? Or, have you bought some land already, but, are struggling to find a builder who gives you the confidence that they will do the job right? The biggest advantage of building a new home is that you get exactly what you want, at an affordable price! We have built lots of homes in Auckland for the <strong>Indian</strong> community since 2011 and have helped many <strong>Indian</strong> families to build their dream home. We can offer a wide range of home designs from 60m2 to 386m2, that, we guarantee will meet your needs. Call now for an obligation free first consultation Our prices start from just $115,000 inc GST for a 60m2 home. We understand what a huge investment buying or building a new house is for anyone. All our homes come with the following guarantees to give you peace of mind for many years to come. • A 10 year Builders Guarantee • A 15 Year Weather Tight Guarantee • A 50 year Structural Guarantee Call Vijay on 022 690 6186 Silver Fern Homes “We give you peace of mind, when you build with us”
AUGUST 1, <strong>2016</strong> Real Estate & Mortgage finance 11 MELBOURNE WORLD’S MOST LIVEABLE CITY
- Page 1 and 2: BUSINESSLINK The English Fortnightl
- Page 3 and 4: AUGUST 1, 2016 HOMELINK 03 Strategi
- Page 5 and 6: AUGUST 1, 2016 HOMELINK-auckland ma
- Page 7 and 8: AUGUST 1, 2016 Half-hearted measure
- Page 9: AUGUST 1, 2016 BUSINESSLINK 09 THE
- Page 13 and 14: AUGUST 1, 2016 Real Estate & Mortga
- Page 15 and 16: AUGUST 1, 2016 Sara Hartigan Sara H
- Page 17 and 18: AUGUST 1, 2016 Wenceslaus anthony s
- Page 19 and 20: AUGUST 1, 2016 Wenceslaus anthony s
- Page 21 and 22: AUGUST 1, 2016 BUSINESSLINK 21 Expl
- Page 23 and 24: AUGUST 1, 2016 COMMUNITYLINK 23 Dur
- Page 25 and 26: AUGUST 1, 2016 COMMUNITYLINK 25 GOP
- Page 27 and 28: AUGUST 1, 2016 ARTLINK-Ratna Venkat
- Page 29 and 30: AUGUST 1, 2016 ENTERTAINMENTLINK 29
- Page 31 and 32: AUGUST 1, 2016 ENTERTAINMENTLINK 31
Change language