Property investor magazine for April 2014 reported in Landlords brief that more New Zealanders are now renting their homes according to the latest census. Data shows just 43% of people aged 30 to 39 own or partly own their homes, down from 54.6% in 2001. The number of private rentals has increased by 19% and the median rent is up 40%. Overall 49.8% of people aged 15 and over owned or partly owned their homes last year, compared with 53.2% in 2006.
The report also talks about Auckland rents rising with growth strong last month in the city’s eastern suburbs, Ponsonby, Grey Lynn, Pt.Chevalier and Birkenhead.