A rental website shows that Porirua is now the most expensive area in New Zealand to rent a house, ahead of Wellington and Auckland.
Trade Me’s rental price index puts the median rent in Porirua at $ 625 per week – with rents up 25% from last year.
Trade Me spokesperson Logan Mudge said Morning report Porirua had preceded Wellington as being the most expensive place to rent.
Wellington’s median rent is $ 600 per week.
“It’s the Porirua neighborhood that wraps Tawa to the north until we reach Kapiti, so rents have been climbing all year round, sort of neck and neck with the city of Wellington and we’ve seen that jump. in September which is pretty amazing.
“The demand is on the rise, and I guess homeowners can make the most of it and claim the best price for the properties they have there.”
Mudge said Porirua had a lot of larger housing rather than townhouses or apartments, which could cost less.
“In Porirua and around Porirua there are large housing estates … with large houses, so they can charge quite high rents. And thanks to foreclosure etc. people are happy to go 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 wealth, but there are certainly these big suburbs now that are attracting big rents and big real estate prices too.
Demand was “massive” in the capital and housing supply never seemed to keep pace, Mudge said.
He expected the rental and sales figures to climb.
In Auckland, things seemed to have slowed down a bit, Mudge said.
“Demand and supply are stabilizing. Auckland is still seeing price increases, but nothing like Wellington.”
Auckland’s median weekly rent was $ 570. Nationally, the median weekly rent was $ 510 in September, while rents rose three percent last year.
Demand in September was up in all but four regions compared to the same month last year, with Bay of Plenty (32%), Nelson / Tasman (26%), Hawke’s Bay (25%) and Canterbury (23%), all see demand increasing by more than 20 percent year-over-year, according to Trade Me.