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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 $485 per week.

myRent can help landlords to manage and advertise their Wellington rental property. myRent offers simplified, flexible, intuitive property management for only a 1% fee 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.

Manage your property for 1% 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 $485

Apartment - $470

Townhouses - $500

Units - $360

1-2 Bed Place - $450

3-4 Bed Place - $575

5- Bed Place - $1,000

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.

Manage your property for 1% 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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