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Dec 29, 2017

Good rental returns in Wellington and Auckland


Last Updated: Dec. 29, 2017
AUCKLAND - Apartments (size) COST ($) YIELD (p.a.) PRICE/SQ.M. ($)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
50 sq. m. 360,450 n.a. n.a. 7,209 n.a.
AUCKLAND - Apartments (bedrooms)
1 BR 308,588 1,421 5.53% n.a. n.a.
2 BR 412,571 1,885 5.48% n.a. n.a.
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Districts researched:
Auckland: Auckland Central, Mt. Eden, New Market, Parnell and Ponsonby
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

Last year, we found that the best rental returns available on apartments in Wellington had moved slightly ahead of Auckland. This may reflect a jump in prices of larger properties in Auckland, which would tend to reduce the rental returns. “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 on 1 and 2 bedroom houses are now around 5.5%.  Apartments, and particularly smaller apartments, tend to earn more - last year we found returns of from 6.88% to 8.43%  

In Auckland, last year we found that rental yields on apartments ranged from 6.09% to 7.18%.

Property transaction costs analysis in New Zealand are rather low, and in regional terms, the total costs of buying and then selling a property are very attractive.






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