Auckland reclaims top spot as most expensive place to rent
Auckland has reclaimed the top spot as the country's most expensive place to rent after the Bay of Plenty overtook Tāmaki Makaurau in December, according to Trade Me's latest rental price index.
Trade Me's Gavin Lloyd said: "Average median rent in Auckland went up by 3 per cent compared to last month, reaching a high of $680 per week whilst the Bay of Plenty market dropped by 3 per cent to $650 per week.
"The increase in Tāmaki Makaurau was driven by the North Shore City which recorded an uptick of 4.2 per cent to $720 a week and Waitakere City which is up 2.3 per cent to $665 a week."
The data also showed New Zealand rental prices overall have increased for the second month in a row.
The national median weekly rent in New Zealand has jumped to $630 for the month of January, up 0.8% compared to December last year.
Lloyd said the first month of 2024 could be a "telling sign" of the year ahead.
"Renters were for the most part sheltered from any major price increases for rental properties at the end of 2023 but this may change if the Reserve Bank decides to raise the official cash rate next week in their first meeting of the year.
“As borrowing costs rise, landlords may face increased expenses, and some could pass on these costs to tenants through higher rents.
"This change might make it a bit tougher for renters with the rising cost of living and lack of properties available giving them fewer options when searching for a property," Lloyd said.
Southland retains its status as the most affordable place to rent in New Zealand, with a median price of $450 per week, a slight increase of $10 from December.
The report also included rent for townhouses and apartments, which have climbed to "record highs".
The median weekly rent for an apartment in New Zealand peaked at $560 per week in January and townhouses reached $665 per week.
In Auckland specifically, townhouses also reached an all time high of $730, up 5% compared to the same time last year. Units in Christchurch also saw a jump, up 12.5%, making the median rent $450.
"As net migration is almost at an all time high more people are coming into the country looking for entry level rentals like apartments and townhouses — especially as they are more prevalent in our city centres.
"This increase in demand is likely putting pressure on the supply and impacting prices," Lloyd said.
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Wayne Brown backed by billionaires and developers in $611k campaign haul
Celebrities, billionaire Graeme Hart and a who’s who of property developers each gave up to $50,000 to fund Wayne Brown’s mayoral re-election campaign.
Electoral returns made public today show Brown was flush with about $606,000 in campaign funds, while his only serious competitor, Whau councillor Kerrin Leoni, received just $16,076 in four donations over the $1500 declaration limit.
She relied heavily on donations of less than $1500 to raise $83,111.83 to run her campaign, while Brown spent $323,872, with nearly $280,00 left over from his wealthy donors.
Leoni, a low-profile first-term councillor, stood little chance against the high-profile Brown, who romped home for a second term by a margin of 100,000 votes.
Among the donors who gave $5000 to Brown were former All Black and Waiheke resident Marc Ellis, and Black Knights Football, which refers to Auckland FC, of which former All Black Ali Williams and his wife Anna Mowbray are minority co-owners.
Williams attended Brown’s election-night party at the West End Tennis Club at Coxs Bay, a short walk from the $24 million coastal home he shares with Mowbray.
Through his Rank Group company, Hart, who is worth an estimated $12.1 billion, gave $50,000 to Brown’s campaign. Property investment firm Tramco Group, whose directors own big landholdings on the Auckland waterfront, also chipped in with $50,000.
Other donors included Precinct Properties ($10,000), engineering firm BECA ($5000), Park Hyatt Hotel ($18,400), Hancocks Wine ($8000), Golf Warehouse ($20,000), Bayleys Real Estate ($10,000) and Hopper Developments ($5000).
Leoni, who was the Labour councillor for Whau but stood as an independent in the mayoral race, received donations from former Auckland Mayor and Labour leader Phil Goff ($1500), former Labour minister Judith Tizard ($5000) and longtime Labour operative Greg Presland ($7576).
She said Brown had the advantage of building relationships during his first term to raise donations, but she was proud of obtaining 20% of the vote by raising and spending $83,000.
The greater handicap during the election campaign was the lack of mainstream media coverage, with live television debates largely watched by older people, who formed the largest group of voters, she said.
The election resulted in the lowest super city turnout of under 30%.
Leoni, a mother of twins who has degrees in politics and economics, Māori development and social services, said she was having a break from the council to refocus and would decide on what to do next in the New Year.
Brown, who has said he will not seek a third term, declined to say what would happen to the nearly $280,000 left over from his campaign, saying he does not comment on other people’s donations, except to say they were a sign of the level of support for what candidates stood for.
Auckland Council electoral officer Dale Ofsoske said there were no rules governing how candidates used leftover campaign funds, though many choose to keep them for future campaigns.
Candidates could do what they liked with the money, he said.
Three years ago, Brown raised $310,000 in donations and had to dig into his own pocket to top up the $470,00 cost of his campaign.
Donations of $10,000 or more to Wayne Brown
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Tramco Group - $50,000
Rank Group - $50,000
CP Group - Aphi Funds manager - $25,000
Peninsula Capital $25,000
Knight Investments Ltd - D Nakhle - $20,000
Hugh Green Ltd - $20,000
Stonewood Group - $20,000
Golf Warehouse - $20,000
Aedifice Development - $20,000
AHL Park Hyatt Hotel - $18,400
Clifftop Services - PC Cooper - $15,000
Mr MJ Todd - $15,000
Gilligan Rowe & Associates - $11,000
Liu Vincent - $10,000
Southside Group - Chris Jones - $10,000
Van Den Brink - $10,000
Williams Corporation - M. Horncastle - $10,000
Precinct Properties - $10,000
Oyster Capital - $10,000
Bayleys Real Estate - $10,000
N McKenna - $10,000
Donations of $1500 or more to Kerrin Leoni
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Greg Presland - $7576
Judith Tizard - $5000
Te Ata Thompson - $2000
Phil Goff - $1500
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Poll: Are our Kiwi summer holidays helping us recharge, or holding the economy back? ☀️🥝
There’s growing debate about whether New Zealand’s extended Christmas break (and the slowdown that comes with it) affects productivity.
Tracy Watkins has weighed in ... now it’s your turn. What’s your take? 🤔
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72.3% We work hard, we deserve a break!
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16.1% Hmm, maybe?
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11.6% Yes!
Some Choice News!
Many New Zealand gardens aren’t seeing as many monarch butterflies fluttering around their swan plants and flower beds these days — the hungry Asian paper wasp has been taking its toll.
Thanks to people like Alan Baldick, who’s made it his mission to protect the monarch, his neighbours still get to enjoy these beautiful butterflies in their own backyards.
Thinking about planting something to invite more butterflies, bees, and birds into your garden?
Thanks for your mahi, Alan! We hope this brings a smile!
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