Rent for a one-bedroom property has passed the $300 mark in all Auckland suburbs, according to the latest Barfoot and Thompson figures.
The average price for a one-bedroom property is now $344 in the city. The cost ranges from $302 in Manukau/Franklin to $373 in central Auckland.
Kiri Barfoot says three-bedroom properties are the best indicator. Rent for a three-bedroom home ranges from $419 in Franklin/Manukau to $887 per week in central Auckland.
The highest rise in rent was seen in south Auckland, at 6.3 percent on average in the October to December quarter of 2016, compared with the same quarter in 2015.
Ms Barfoot told Newshub that's because people don't necessarily want to live in central Auckland.
"It depends where their families are, where their jobs are, where their children go to school. It's not necessarily that people actually want to live in central Auckland if their life and their business is further out. It's not just about how much it costs. It's just how it fits in with their life as well."
Ms Barfoot says rents tend to rise at a slower rate than house prices, because they reflect salaries.
"Salaries in Auckland are fairly fixed, and pay rises haven't been that substantial, so rents tend to go up very slowly over time."
Newshub.
