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Aug 11, 2013

Good rental returns in Auckland, up to 9.1%!


Last Updated: Aug. 11, 2013
AUCKLAND - Apartments COST ($) YIELD (p.a.) PRICE/SQ.M. ($)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
40 sq. m. 173,840 1,324 9.14% 4,346 33.11
60 sq. m. 271,920 1,759 7.76% 4,532 29.32
120 sq. m. 673,320 3,052 5.44% 5,611 25.43
CHRISTCHURCH - Houses
120 sq. m. 406,20 1,808 5.34% 3,385 15.07
300 sq. m. 1,056,000 3,069 3.49% 3,520 10.23
WELLINGTON - Apartment
50 sq. m. 198,150 1,146 6.94% 3,963 22.91
80 sq. m. 344,800 1,742 6.06% 4,310 21.78
120 sq. m. 452,640 2,330 6.18% 3,772 19.42
Districts researched:
Auckland: Auckland Central, New Market, Mt. Eden, Parnell, Ponsonby, Remuera
Wellington: Wellington Central, Khandallah, Oriental Bay, Mt. Victoria, Thorndon, Kelburn, Roseneath, Te Aro,
Christchurch: Fendalton, City Centre, Cashmere, Sumner, Ilam, Merivale
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

Apartments in Auckland earn the highest rental returns in New Zealand, compared to apartments in Wellington and in Christchurch.

In Auckland, rental yields on apartments range from 5.44% to 9.14%, with smaller apartments earning much better returns. The wide range of rental yields reflects an apparently dramatic jump in prices of larger properties. “Foreign buyers are mostly drawn to the Auckland area”, explains Bill Sandston, a real estate lawyer.

In Wellington, the capital of New Zealand, rental yields range from 6.18% to 6.94%. These are not bad returns, either.

In Christchurch, our sample properties consisted of houses, not apartments. Houses tend to have lower rental yields, so the fact that we found low yields in Christchurch probably reflects the kind of property we looked at, rather than any objective difference.






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