16 Apr 2014

Auckland rents rise four percent

2:07 pm on 16 April 2014

Auckland's largest realtor says the Auckland rental market had a steady year, with a four percent price increase.

The average rent for a three bedroom property in Auckland last month was $464 dollars a week, according to Barfoot & Thompson.

It says price rises in the rental sector have not kept pace with the increase in house prices in the city.

However, it says the rental market is not immune to wider trends and with the tight Auckland market and high demand for property, the rental sector will experience even greater demand and inevitably prices will rise.