Bay rents well below average

The cheapest rental property in Hawke's Bay is a two-bedroom house in Waipukurau, advertised for a mere $125 a week.

The property is on a fenced section, is suitable for four tenants and has a lock up garden shed.

Trade Me Property figures show the average weekly rent in Hawke's Bay was $306 during the April to June quarter.

The region's average rent was well below the national average, which rose by $6 in the past year to reach $417 a week.

Demand for Hawke's Bay rentals in the last quarter surged 18 per cent year-on-year, while supply dropped 15 per cent, the figures show.

Described as a "very tidy property in a quiet cul-de-sac" the Waipukurau rental is within walking distance to town and other amenities.

Listing agent Sharon Donnithorne said the rent had been lowered to raise its appeal.

"Two-bedroom properties are hard to rent sometimes - a lot of people are looking for three bedrooms or more."

Ms Donnithorne said the only properties she had listed which were cheaper were one-bedroom units.

The property would appeal to a young couple or a retired person, she said.

Demand for Central Hawke's Bay rentals depended on the time of year as a lot of employment in the region was seasonal, Ms Donnithorne said.

"A lot of the higher-end homes are generally for 12 months or more.

"We've just had a tenant leave a property who was there for 11 years."

At the other end of the scale, the most expensive Hawke's Bay rental is a two-bedroom apartment in Napier's city centre advertised for $800 a week.

The "great, modern, centre-city apartment" is located on the fourth floor of the building, with an east-facing balcony boasting "great views across the Pacific right out to Cape Kidnappers".

"Watch the sun rise each morning from the balcony and listen to the surf breaking," the advertisement beckons. Features include secure access, a car park, a location with a five-minute walk from Marine Parade and a "comfortable half-hour stroll to the restaurants and nightlife at Ahuriri".

With an average rent of $494 a week, Auckland rental properties remained the country's most expensive in the last quarter, followed by Canterbury at $480 and Wellington at $408.

Head of Trade Me Property Brendon Skipper said there had been talk of a national rental shortage, but it was not as dire as suggested.

"There are pockets where it's definitely tough going for tenants, but nationally the year-on-year numbers are only slightly up for demand, and this is matched by a tick up in the number of listings."

The country's cheapest listed rental last quarter was a two-bedroom property in Ohakune for just $45 a week.

Unsurprisingly, the nation's most expensive rental was a three-bedroom house in Auckland's Takapuna, listed for $5000 a week.

By the numbers

  • $306 - average weekly rent in Hawke's Bay

  • $417 a week - average rent nationwide

  • * $6 - national average rent increase

  • $125 a week - cheapest rental in Hawke's Bay (Waipukurau)

  • $800 a week - most expensive rental in Hawke's Bay (Napier)

  • $45 a week - cheapest rental in the country (Ohakune)

  • $5000 a week - most expensive rental in the country (Takapuna)

- Hawkes Bay Today

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