Gross rental yields in New Zealand: Auckland and 2 other cities
The average gross rental yield in New Zealand stands at 4.27% (2024, Q2). Previously, in Q3, 2023 the average gross rental yield stood at 4.10%.
The apartment average stands at 4.40% while the houses and townhouses average is at 4.17%. Prices are shown in US$.
- Auckland
- Wellington
- Christchurch
| Last Updated: June 05, 2024 | |||
| AUCKLAND - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Auckland Central | |||
| 1-Bedroom | $241,424 | $1,174 | 5.84% |
| 2-Bedroom | $304,988 | $1,515 | 5.96% |
| Auckland (all locations) | |||
| 1-Bedroom | $317,212 | $1,204 | 4.55% |
| 2-Bedroom | $427,228 | $1,662 | 4.67% |
| 3-Bedroom | $794,560 | $2,145 | 3.24% |
| Auckland (apartments) avg. Rental Yields | 4.15% | ||
| WELLINGTON - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Wellington (all locations) | |||
| 1-Bedroom | $275,040 | $1,185 | 5.17% |
| 2-Bedroom | $409,504 | $1,625 | 4.76% |
| 3-Bedroom | $657,040 | $2,200 | 4.02% |
| Wellington (apartments) avg. Rental Yields | 4.65% | ||
| AUCKLAND - Houses/Townhouses | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Auckland (all locations) | |||
| 1-Bedroom | $378,332 | $1,149 | 3.64% |
| 2-Bedroom | $449,232 | $1,540 | 4.11% |
| 3-Bedroom | $550,080 | $1,833 | 4.00% |
| 4+Bedroom | $843,456 | $2,322 | 3.30% |
| Auckland (houses and townhouses) avg. Rental Yields | 3.77% | ||
| WELLINGTON - Houses/Townhouses | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Wellington (all locations) | |||
| 2-Bedroom | $395,446 | $1,558 | 4.73% |
| 3-Bedroom | $488,960 | $1,833 | 4.50% |
| 4+Bedroom | $638,704 | $2,383 | 4.48% |
| Wellington (houses and townhouses) avg. Rental Yields | 4.57% | ||
| CHRISTCHURCH - Houses/Townhouses | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Christchurch (all locations) | |||
| 2-Bedroom | $357,552 | $1,320 | 4.43% |
| 3-Bedroom | $439,452 | $1,515 | 4.14% |
| 4+Bedroom | $549,468 | $1,833 | 4.00% |
| Christchurch (houses and townhouses) avg. Rental Yields | 4.19% | ||
| 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. Source: Global Property Guide and OneRoof |
|||
New Zealand's Historic Rental Yield Data
Research Methodology: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in the largest cities of New Zealand. We utilized the OneRoof website for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).
For instance, if the monthly rent is $500 and the purchase price is $100,000, the calculation would be: $500 (Monthly Rent) x 12 / $100,000 (Purchase Price) = 6% (Gross Rental Yield).
Research Methodology: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in the largest cities of New Zealand. We used the local website for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).
For instance, if the monthly rent is $500 and the purchase price is $100,000, the calculation would be: $500 (Monthly Rent) x 12 / $100,000 (Purchase Price) = 6% (Gross Rental Yield).