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Wellington Property Management

Photo: City Lights by Simeon W. NZ

The Wellington property market has remained strong over the last 5 years, experiencing the largest annual increase in number of houses across the 3 main cities, with smaller houses and units growing in demand.

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 $10 per month and Wellington property advertising on myRent, Trade Me, realestate.co.nz, OneRoof, Homes.co.nz and myRent and for a one-off fee of $75.

$10 Property Management Find Tenants for $75

What does the average renter in Wellington looks like?

Gender

Tenants in Wellington by gender graph - Wellington property management

Average age

33 Years Old

Number of renters in each age category

Tenant renter age split graph - Wellington property management

Ethnicity

Renter tenant ethnicity graph - Property management in Wellington

Multicultural

27% tenants are born overseas

Median renters household income

$69,000

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%

Self-employed tenants

Wellington have significantly fewer tenants reporting income from self-employment than in any other major city.

Work travel

54% drive to work, 12% use public transport and it takes on average 25 mins

Typical household size

2 people

Four-person households

In Greater Wellington, four-person households are the least likely to rent compared to similar-sized households elsewhere in New Zealand.

Relationship status

50% tenants in Wellington are married / de facto

Number of bedrooms preference

Rental property number of bedrooms graph - Property management in Wellington

Number of cars per household

Number of cars in rental property graph - Wellington property management

Number of renters who have access to internet

71%

Number of renters who have access to mobile phone

82%

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

High turnover

46% tenants had moved in the last two years

Biggest reason to leave previous place

Tenants main reason to move graph - Property management in Wellington

Tenant's biggest concern

Rent hikes

Top 3 things tenants would like to improve in their current property

Insulation 26%

Heating 14%

Kitchen 9%

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.

$10 Property Management Find Tenants for $75

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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.

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