Apartment Rents Return To Record High | Impression Real Estate
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Apartment Rents Return To Record High

Posted by Impression on 30, Aug 2018

Rents on apartments and units increased in July, with apartments back to their previous record high of $470 a week, according to a TradeMe Property analysis.

Auckland units took a jump to a new record rent price of $450 a week, while Auckland apartments were up 3.6% to $498 a week. Smaller properties outperformed the market as a whole: Auckland rents across the board were flat, as were Wellington’s.

TradeMe’s head of property, Nigel Jefferies, believes this is only a blip, however: “With the Auckland and Wellington regions bucking the seasonal trend, there’s a good chance we could be heading for more record rents this summer when demand can be expected to skyrocket. Auckland’s sitting at an all-time high - once summer demand kicks in we could see rents jump pretty quickly,”

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