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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.