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Rental Market Statistics: October Report

Press Release – Oxygen

Every month we gather the most recent information on rental prices in Wellington and the Hawke’s Bay. This is a great way to look at an overview of how much you could potentially rent out your investment property for.Rental Market Statistics: October Report

Brief Overview:

Every month we gather the most recent information on rental prices in Wellington and the Hawke’s Bay. This is a great way to look at an overview of how much you could potentially rent out your investment property for.

Median Rent Increases

– One bedroom properties in Napier Central have increased by a huge 48 per cent compared to October 2017. The median rent is now $350 per week.

– Two bedroom properties in Napier Central saw a much smaller increase of 22 per cent compared to October 2017. The median rent is now $390 per week.

– Two bedroom properties in both Hastings and Napier South saw an increase of 17 per cent compared to October 2017. The median rent is now $340 and $315 respectively.

– One bedroom properties in Upper Hutt have increased by 28 per cent compared to October 2017. The median rent is now $250 per week.

– One bedroom properties in Khandallah/Ngaio have increased by a huge 45 per cent compared to October 2017. The median rent is now $347 per week.

– One bedroom properties in Kilbirnie/Island Bay have increased 30 per cent compared to October 2017. The median rent is now $370 per week.

– One bedroom properties in Hataitai/Brooklyn have increased by 22 per cent compared to October 2017. The median rent is now $310 per week.

– New Zealand 1–4 bedroom properties up 4 per cent to 9 per cent compared to October 2017.

Median Rent Decreases

– Four bedroom properties in Johnsonville/Tawa, and Karori/Kelburn have decreased by 4 per cent compared to October 2017. The median rent per week is now $595 and $770 respectively.

– Two bedroom properties in Northern Lower Hutt have decreased by 3 per cent compared to October 2017. The median rent is now $340 per week.

Bonds Lodged

Activity is noticeably high in Wellington Central (215), Hutt Valley (162), Johnsonville/Tawa (88), Napier (56) and Hastings (56). Overall there were 7138 bonds lodged across New Zealand in October.

October_2018_Snapshot.pdf
October_2018_Statistics.pdf

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