Annual rental growth stabilised in December and January

Date: 21 March 2018

Annual rental growth stabilised at 4.9% in December and January, illustrating a similar trend to value growth after both bottomed out in October 2017.

Gross rental yield continues to hover along just over 3.0% (as it has done for 18 months+).

Christchurch rent continues to drop, although the rate of -2.8% is not as great as the drop witnessed through most of the second half of 2017.

Meanwhile the growth in median rent in Dunedin is now trending downwards after peaking at greater than 10% growth in the middle of 2017. Tauranga’s annual rent increase of 12.1% is slightly misleading because it’s being compared to an anomaly of a month last January. Actual annual change in Tauranga is realistically closer to 7%, which is still rather high – similar to Wellington (7.6%), where we’ve seen and heard plenty about the rental squeeze in the nation’s capital.

Source: CoreLogic NZ

 

Tags: Property, CoreLogic, Auckland, Wellington, Housing, Real Estate, Property Market, Buying


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