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September quarter data released last week shows the average weekly rent paid in Auckland has tipped over $650, with the region’s rental market recording one of its biggest increases in years.
Barfoot & Thompson says the average weekly rent paid across all its tenancies was up 4.44 per cent or $27.74 over the same time last year.
The most notable moves in pricing were observed in new tenancies, rather than existing ones.
This follows two years of relatively steady change, ranging between 2.97 and 3.37 per cent year-on-year. Barfoots says the increase was due largely to the influx of migrants from overseas. In Rodney, the increase was slightly less than the Auckland average, at 3.42 per cent.
The average rent in Rodney for a one bedroom tenancy was $406, 2-bdrm $532, 3 bdrm $634, 4 bdrm $770 and 5-plus bdrm $895.
