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A rental website shows that Porirua is now the most expensive region in New Zealand to rent a house, ahead of Wellington and Auckland.
Port of Porirua.
Photo: kayjayimages / 123RF
Trade Me’s rental price index puts the median rent in Porirua at $ 625 a week, and rents are up 25 percent since last year.
Trade Me property spokesman Logan Mudge said Morning report Porirua had overtaken Wellington as the most expensive place to rent.
Wellington’s median rent is $ 600 per week.
“It’s the Porirua district that encapsulates North Tawa until we got to Kapiti, so rents have been going up all year, kind of a junction with the city of Wellington and we saw this jump in September, which is pretty incredible. .
“The demand has increased, and I suppose that owners can take full advantage of that and claim the best price for the properties they have there.”
Mudge said Porirua had many larger homes rather than townhouses or apartments, which could cost less.
“In Porirua and around Porirua there are some big subdivisions … with big houses so they can get pretty high rents. And thanks to the closure and so on, people are happy to venture out of town when they can work from home and so on.
“When you think of Porirua, you think of more working class and less affluence, but it certainly has those bigger suburbs now that are attracting big rents and big property prices too.
Demand was “massive” in the capital, and housing supply never seemed to keep up, Mudge said.
He expected the rental and sales figures to go up.
In Auckland, things seemed to have slowed down a bit, Mudge said.
“Demand and supply are stabilizing. Auckland continues to see price rises, but nothing like Wellington.”
Auckland’s median weekly rent was $ 570. Nationwide, the median weekly rent was $ 510 in September, while rents increased 3 percent in the past year.
Demand in September increased in all but four regions compared to the same month last year, with Bay of Plenty (32 percent), Nelson / Tasman (26 percent), Hawke’s Bay (25 percent) and Canterbury (23 percent), all saw demand increase by more than 20 percent year-on-year, according to Trade Me.
