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Thursday, 22 July 2021, 12:21 pm Auckland’s average weekly rent ticked over the $600 mark in April and finished the second quarter with a June average of $605, according to data from more than 16,500 rental properties managed by Barfoot & Thompson. Director Kiri Barfoot says that the figure is in keeping with the anticipated annual increase in rents across the city. “The year-on-year increases in average rent have hovered between 2 and 3 per cent each year for the past several years, with exception of the second and third quarters of 2020 when the Government-mandated rent freeze was in place. “June’s figure represents a 0.3 per cent increase on May’s average – or around $2 ....
Wednesday, 19 May 2021, 11:02 am Auckland’s rental market maintained its usual pace during the first quarter of 2021, with the average weekly rent increasing by 2.3 percent on the same time last year, reaching $599 per week. Barfoot & Thompson Director Kiri Barfoot says the increase is consistent with market expectations and pricing trends over the past two years: “We saw an identical rate of change, 2.3 per cent, at the end of March 2020, and the market moved at a comparable rate throughout 2019.” She notes the figures are yet to reflect the impact of recently announced changes to the bright line test or interest cost deductions ....
Weekly rents in most areas up $10 or more per week The average weekly rent in Auckland reached a new high of $595 at the end of 2020, just shy of a long-anticipated $600 per week. The figure is based on actual rents paid during December 2020 for around 16,500 Auckland properties, including both new and existing tenancies, managed by agency Barfoot & Thompson . “We have long suspected the market would hit the $600 mark during 2020. And while this was dampened somewhat by the effects of lockdown, the momentum continued among newly signed tenancies,” explains Barfoot & Thompson Director Kiri Barfoot. “Activity during this quarter was also not constrained by the rent freeze, ....