Gross rental yields in New Zealand: Auckland and Wellington
Last Updated: Aug. 30, 2023 | |||
AUCKLAND - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Auckland Central | |||
1-Bedroom | $247,109 | $1,163 | 5.65% |
2-Bedroom | $346,076 | $1,534 | 5.32% |
Auckland (all locations) | |||
1-Bedroom | $333,396 | $1,188 | 4.28% |
2-Bedroom | $432,363 | $1,682 | 4.67% |
3-Bedroom | $1,019,981 | $2,078 | 2.44% |
Auckland avg. Rental Yields | 4.47% | ||
WELLINGTON - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Wellington (all locations) | |||
1-Bedroom | $363,395 | $1,225 | 4.05% |
2-Bedroom | $479,372 | $1,633 | 4.09% |
3-Bedroom | $481,847 | $1,905 | 4.74% |
Wellington avg. Rental Yields | 4.29% | ||
CHRISTCHURCH - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Christchurch (all locations) | |||
2-Bedroom | $369,271 | $1,311 | 4.26% |
3-Bedroom | $446,899 | $1,540 | 4.14% |
4+Bedroom | $534,887 | $1,979 | 4.44% |
Christchurch avg. Rental Yields | 4.28% | ||
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower. Source: Global Property Guide and Oneroof |
Research Methodology: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in the largest cities of New Zealand. We used the local website for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).
For instance, if the monthly rent is $500 and the purchase price is $100,000, the calculation would be: $500 (Monthly Rent) x 12 / $100,000 (Purchase Price) = 6% (Gross Rental Yield).