This is the second study conducted by the Technical Working Group on Housing. The group includes representatives from the Treasury Te Tai Ōhanga, the Ministry of Housing and Urban Development Te Tūāpapa Kura Kāinga, and the Reserve Bank of New Zealand Te Pūtea Matua. Today they published a paper titled What’s driving rents in New Zealand/national and regional analysis.

The group has undertaken work to better understand the drivers of rents, improve the accuracy of rental prices and house price forecasts, and identify regional hotspots. This work is expected to influence future policy development.

The study identified the following as the main causes of rent inflation:

• Supply and demand for housing – a 1 percent increase in the average number of people in each house leads to a 1.5 percent increase in rents at the national level;
• Wages – increase in nominal wage rates – a 1 percent increase in nominal wages leads to a 1 percent increase in rents;
• Mortgage interest rates and employment have an impact, but much smaller.

The study also shows that local factors also play a role, leading to proportional rent increases in some regions.

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Auckland

Auckland is the largest city in New Zealand and the cultural center of the country. Here you’ll find a wide range of accommodation, from stylish apartments in the city center to spacious homes in the suburbs. Auckland also offers a variety of cafes, restaurants and stores, as well as beautiful beaches and parks for outdoor activities.

Wellington

Wellington, the capital of New Zealand, is known for its picturesque location between the hills and the bay. The city is famous for its cultural scene, cafes and high-end restaurants. You’ll find a variety of accommodation here, from apartments in the city center to cozy homes in the suburbs.

Christchurch

Christchurch, located on the South Island, is the region’s center of culture and entertainment. The city offers a variety of accommodation, including modern apartments in the center and spacious homes on the outskirts. You will also find a variety of parks, gardens and cultural activities here.

Queenstown

Queenstown is renowned for its spectacular mountain scenery and outdoor activities. This South Island town attracts tourists and residents alike with its beautiful views and friendly atmosphere. You’ll find a variety of accommodations here, from cozy apartments to luxury homes with lake and mountain views.

Hamilton

Hamilton, located on the North Island, is a picturesque town with beautiful parks, gardens and the Waikato River. The city offers a variety of housing, including apartments in the center and spacious homes in the suburbs. Hamilton is also famous for its universities and cultural events.

No matter which city you choose for your New Zealand vacation rentals, you are sure to find a place that suits your needs and preferences. I hope this article helps you make the right choice and enjoy your new home in this beautiful country!

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Furnished property for rent

It is harder to find furnished properties for rent as they are not common in New Zealand. A furnished one-bedroom will usually cost an average of NZ$380 per week, while a furnished two-bedroom property will cost NZ$500 per week. On average, a three-bedroom property costs NZ$600 per week and a four-bedroom property costs NZ$650 per week.

These properties usually include living/dining room furniture, kitchen appliances, and beds. It is important to be mindful of landlord-owned furniture, as you will have to pay a fee if there is damage.

Renting a property without furniture

As most rental properties in New Zealand are unfurnished, they will still include the necessary plumbing and accessories in the kitchen, bathroom, flooring, curtains or blinds. The cost of renting an unfurnished property is always cheaper than a furnished property.

The average rental price for one unfurnished bedroom is NZ$320 and NZ$420 per week for a two-bedroom property. Renting a three-bedroom property will cost approximately NZ$510 and NZ$640 per week for a four-bedroom property.

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Apartments

Apartments are one of the most popular rental housing options in New Zealand, especially in major cities such as Auckland, Wellington and Christchurch. They are usually in high-rise buildings in the city center or suburbs and offer amenities such as proximity to public transportation, shopping, and entertainment.

Houses

Rental homes are also popular in New Zealand, especially among families and those who prefer space and privacy. They can be either single-story or multi-story, with or without a private yard. Homes in the suburbs are often preferred by those looking for a quiet life, away from the hustle and bustle of the city.

Units

Units, or half of two-story homes, are also sought after for rent in New Zealand. They usually have separate entrances and their own plots of land or yards, making them an attractive option for those who value privacy but prefer more affordable options than full houses.

Studios and studio apartments

Studios and studio apartments are compact housing options that usually consist of one room with a separate bathroom and kitchen. They are ideal for singles, young professionals and those who prefer a no-frills space.

Cabins and cottages

Lodges and cottages, especially in rural areas and in nature, can offer a unique experience of living in New Zealand. These cozy homes are often preferred by tourists as well as those looking for temporary or seasonal accommodation.

The popularity of different types of New Zealand vacation rentals depends on many factors, including location, budget, and the needs of the renter. No matter what type of accommodation you choose, you are sure to find something suitable for you in New Zealand.

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Be prepared to spend at least 30% of your income on rent

Rents in New Zealand are usually quite high. Wellington has one of the highest rents in the country due to a rental shortage. The average rent is $527 per week.

The most expensive cities to rent are Wellington and Auckland. However, the pandemic has left Auckland’s city center sparsely populated due to fewer international students. It is now easier to find an affordable apartment in Auckland than in Wellington.

Christchurch has one of the most stable and affordable rental markets in New Zealand. The rebuilding after the earthquake has led to the emergence of new townhouses and apartments throughout the city.

If you are planning to move to a small city, you may find it difficult to find rental accommodation. If you are planning to move to New Zealand for the long term, it can be helpful to have a plan on how to climb the real estate ladder. Renting in New Zealand provides less security for tenants than in other countries, and the average lease term is only two years.

You will need to pay a deposit before you rent a property

When you find the perfect rental, you will need to pay a deposit before you can rent the property. A security deposit is the only payment a landlord or property manager can charge you to secure a property. Your landlord or property manager will make the payment to the rental service. Your security deposit is returned to you after you pass the final inspection at the end of your tenancy.

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It is advisable to book your first accommodation before you arrive in the country. This will relieve you of unnecessary worry and uncertainty, and will likely save you money. There are a lot of students, temporary workers and tourists coming to the country all the time, so it is difficult to find good accommodation at the last moment.

Flatmate is a joint tenancy. It is an option for those who want to reduce the cost of rent but still have all the benefits of living in their own home. It is a great way to make new friends and improve your English. Shared renting allows students (and not only) to live in an apartment in the city center (CBD) or in a nice house at an affordable price. It is not uncommon for couples or even small families to rent a place together. It all comes down to the size of the apartment and your wishes regarding the necessary size of your own space in it. On the one hand, this option reduces rental costs, which allows you to rent a really good and comfortable housing for reasonable money, on the other hand, requires a high level of loyalty and friendliness to roommates, so it is better to make sure in advance that the lifestyle of future neighbors do not contradict each other and get along will be easy.

There are two options for concluding a lease agreement. It is possible to rent a place together at once, in which case the rental contract will include all tenants on equal rights and with equal responsibility. It is possible to rent housing for one person and surplus space to rent under a sublease agreement, but this option will need to be agreed with the owner of the housing. The main tenant will have to bear all responsibility for the housing and timely payment of rent to the property owner.

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