Property investor magazine for April 2014 reported in Landlord’s Brief that more New Zealanders are now renting their homes according to the latest census. Data shows just 43% of people aged 30 to 39 own or partly own their homes, down from 54.6% in 2001. The number of private rentals has increased by 19% and the median rent is up 40%. Overall 49.8% of people aged 15 and over owned or partly owned their homes last year, compared with 53.2% in 2006.
The report also talks about Auckland rents rising with growth strong last month in the city’s eastern suburbs, Ponsonby, Grey Lynn, Pt Chevalier and Birkenhead.
For information on rental expectations, get in touch with Kerry from Quinovic Parnell: