10 Oct 2013

No surprise Christchurch more expensive place than Auckland: housing sector

7:16 am on 10 October 2013

The overtaking of Auckland by Christchurch as the most expensive place to rent has come as no surprise to the housing sector.

Trade Me Property says between July and September, the average rental in Canterbury cost more than $500 a week, a rise of 25% compared with the same period last year.

The increase in Auckland was just 2%.

Harcourts property manager in Merivale, Bridgette Tapley, says the average rent in Christchurch has increased by $100 a week over the past year.

"My sister and her husband live in Auckland. They've got a beautiful three bedroom villa they rent in Remuera and they pay $900 a week for that.

"Now if I was to plonk that house in St Albans ... I would achieve the same rent."

She says short term rentals catering for people whose houses are having earthquake repairs can fetch up to $1000 a week.

Senior lecturer in property at Auckland University James Young says the increase in rents in Christchurch mirrors what has occured after other disasters.