Auckland rents are rising at twice the rate of inflation.
• There is an average of 44 prospective tenants for every rental property in Auckland
• Demand for rental properties is very high, Barfoot & Thompson received 107,268 tenant inquiries between January and March 2017
• Barfoot& Thompson said average rents rose 4.6 per cent, rents for new tenancies rose 7 per cent, vacancy rates were low, and the number of online registrations to view properties was at a record high
• Average rents across all property types and locations was $531/week, up from $508 this time a year ago.
• More than half the landlords surveyed by Crockers plan to increase rents in the next six months, compared to 57 per cent in September last year.
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