Wellington’s housing market is amongst the strongest in New Zealand, with the average asking house price being 12% higher than last year. Demand is high, with buyers paying over $570,000 for a typical property in Wellington.
42% of people in Greater Wellington continue to rent. Rental growth is strong with average rental prices in Wellington stalling at $490 per week.
myRent can help landlords to manage and advertise their Wellington rental property. myRent offers simplified, flexible, intuitive property management for only $15+GST per month and Wellington property advertising on myRent, realestate.co.nz, OneRoof, Facebook, Trovit and myRent and for a one-off fee of $50+GST and Trade Me + Homes.co.nz listing for an extra $140+GST.
What does the average renter in Wellington looks like?
33 Years Old
Number of renters in each age category
27% tenants are born overseas
Median renters household income
Renters sources of income
Wages - 79%
Welfare benefits – 18%
Interest / dividends – 9%
Accommodation Supplement – 6%
Self-employed – 5%
Superannuation – 3%
Pension annuities – 3%
Rent – 3%
Other – 9%
Wellington have significantly fewer tenants reporting income from self-employment than in any other major city.
54% drive to work, 12% use public transport and it takes on average 25 mins
Typical household size
In Greater Wellington, four-person households are the least likely to rent compared to similar-sized households elsewhere in New Zealand.
50% tenants in Wellington are married / de facto
Number of bedrooms preference
Number of cars per household
Number of renters who have access to internet
Number of renters who have access to mobile phone
Average rent in Wellington is $490
Apartment - $470
Townhouses - $500
Units - $375
1-2 Bed Place - $400
3-4 Bed Place - $550
5- Bed Place - $855
Most common tenure
1 year fixed term agreement
46% tenants had moved in the last two years
Biggest reason to leave previous place
Tenant's biggest concern
Top 3 things tenants would like to improve in their current property
Relationship with landlord
A good relationship with the landlord was highly valued and a majority of tenants preferred dealing directly with a landlord than through a property manager
To see how myRent can help you with rental property management in Wellington and to make your property advert seen by more potential tenants, follow the link below.
Sources of stats: Cann. G, Hunt, T., Stuff (2017). Wellington homes now even further out of reach for first-home buyers.Property.trademe.co.nz. (2017). Tenants under pressure amidst record-breaking rents Statistics New Zealand. (2013). Profile and summary reports. The New Zealand Rental Sector, Report ER22. (2017). [online] Auckland: SHORE & Whariki Research Centre, College of Health Massey University.