|Last Updated: Aug. 23, 2016|
|AUCKLAND - Apartments (size)||COST ($)||YIELD (p.a.)||PRICE/SQ.M. ($)|
|TO BUY||MONTHLY RENT||TO BUY||MONTHLY RENT|
|50 sq. m.||377,650||n.a.||n.a.||7,553||n.a.|
|120 sq. m.||849,840||n.a.||n.a.||7,082||n.a.|
|AUCKLAND - Apartments (bedrooms)|
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
We find that rental returns on apartments in Wellington have now moved ahead of Auckland. This may reflect a 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 6.88% to 8.43%, with smaller apartments earning more.
In Auckland, rental yields on apartments range from 6.09% to 7.18%. Unfortunately, we were only able to sample smaller apartments, but these usually earn much better returns.
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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