Corazon Miller is a NZ Herald reporter

3-bed rental under $400 rare find

In the central city suburbs the average price was no less than $635.
The most expensive rental was found in Ponsonby, with an average median rental price, in the six months ending June 2016, of $871. Photo / Doug Sherring
The most expensive rental was found in Ponsonby, with an average median rental price, in the six months ending June 2016, of $871. Photo / Doug Sherring

A three-bedroom rental for less than $400 per week is becoming a rare find in the wider Auckland area.

The average of rolling median weekly rental prices in the six months ending June 2016 for a three-bedroom house, across all the city suburbs, was $585 in the latest Crockers Property Management's rental analysis.

Crockers' analysis of the new bonds received each month - supplied by the Real Estate Institute of New Zealand (REINZ) and the Department of Building and Housing - indicated to get a property under the $500 mark most would have to look at the city's outer suburbs.

Of all 30 city suburbs, the cheapest was $417 " found in Pukekohe, a suburb that's close to an hour's drive from the central business district.

But Crockers marketing manager Kim Sinclair said it wasn't impossible to get a place for $400 or less. One listing on showed a 3-bedroom house in Glen Eden for $400 a week.

Meanwhile on Trade Me there were more than 30 properties listed for $400 or less a week.

Nevertheless, a Salvation Army budgeting adviser based in Pukekohe said it was "virtually impossible" to get anything under $400.

"It's hard to find anything, there are just so few rentals available, even around the $400 mark, it's virtually impossible to get a three-bedroom house under $400, $450 is the cheapest I can think of. Three years ago one might have been able to get a property under $200."

But she said in the last year prices had really skyrocketed, leading to more working families coming in for extra support.

The adviser said it was tough for many families, some of whom were living off as little as $325 a week.

Closer to the city centre three-bedroom rentals would be well beyond what she said was the estimated average family income, among her clients, of around $800 to $900.

Of the central city suburbs, the City Centre, Grey Lynn, Ponsonby, Pt Chevalier, Mt Albert, Mt Eden, Epsom and the City Bays, the average price of a three-bedroom rental was no less than $635.

The most expensive was found in Ponsonby, with an average median rental price, in the six months ending June 2016, of $871.

Almost all suburbs, barring Epsom and Grey Lynn/Westmere, saw a rise in rental prices in the six months ending June 2016, compared to the same period last year.

The biggest rise was seen in Papakura and Mangere. Both areas saw a 10 per cent rise in the rental prices of a three-bedroom house, which in Papakura equated to a $39 difference per week, and in Mangere was up $42 on the previous year.

The two suburbs that didn't rise saw marginal drops in rental price; Epsom was down 1 per cent, or down $8, whereas Grey Lynn/Westmere was down 2 per cent, or $16.

The average median rental price to the year ending June 2016 across one, two, three and four bedroom properties was $525. The most expensive overall was a four-bedroom property in Ponsonby - $1100 a week. The cheapest was a one-bedroom property in Pukekohe for $273.

- NZ Herald

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