February rental statistics from the Bond Centre have been released.
Last month the national average rental price increased massively from $550pw to $580pw. This month the national rental price is $570, still an increase of $20pw.
While most areas outside of Auckland and Wellington Central have increased all through 2022, Auckland and Wellington Central were fairly flat.
However in February, most areas declined, except for Auckland, Wellington Central and Palmerston North.
It was unlikely that the regional increases of 2022 could continue, and it will be interesting to see how the next few months pan out.
You can see how Your property rental prices have changed over the years at the rental price calculator on the NZPIF website.
The following table shows rental price changes for the other main centres and New Zealand as a whole.
|
Monthly change |
Annual % change |
Annual $ Change |
|
||
|
North Shore |
-1.5% |
1.3% |
$ 8 pw |
|
|
|
Waitakere |
0% |
-0.3% |
-$ 2 pw |
|
|
|
Auckland |
1.5% |
0.8% |
$ 5 pw |
|
|
|
South Auckland |
1.7% |
1.7% |
$ 3 pw |
|
|
|
Hamilton |
- 2.0% |
1.0% |
$ 5 pw |
|
|
|
Tauranga |
-2.4% |
3.9% |
$ 22 pw |
|
|
|
Napier |
0.9% |
8.5% |
$ 45 pw |
|
|
|
Palmerston North |
2.0% |
3.4% |
$ 17 pw |
|
|
|
Upper Hutt |
-3.4% |
-0.4% |
-$ 3 pw |
|
|
|
Lower Hutt |
-2.5% |
1.4% |
$ 8 pw |
|
|
|
Porirua |
-1.2% |
-5.2% |
-$32 pw |
|
|
|
Wellington |
0.0% |
3.0% |
$ 18 pw |
|
|
|
Nelson |
-3.7% |
5.7% |
$ 28 pw |
|
|
|
Christchurch |
0.0% |
5.6% |
$ 27 pw |
|
|
|
Dunedin |
-3.8% |
5.6% |
$ 12 pw |
|
|
|
Invercargill |
0.0% |
3.8% |
$ 15 pw |
|
|
|
New Zealand |
-1.7% |
3.0% |
$ 17 pw |
|
|
Note: The NZPIF Rental Report uses Tenancy Bond data and averages out three months of statistics to smooth out annual results.
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