Long Term Rental Data (ex ‘The Ministry of Business, Innovation and Employment’)

Great to have access to the New Zealand ‘The Ministry of Business, Innovation and Employment’ (MBIE) private landlords rental prices for all major groupings, pity that the data remains highly aggregated with some areas having very small population and others very large. Being able to create a stratified mean where we could take into account the differences in values so that movement in prices can be seen by value areas would be a major improvement.

However, thanks to the MBIE, we have great statistics back to 1993, which is better than none.

A quick look at long term trends on a national scale shows the downturns in 98/99 and again in 2009, both showed reductions in rental prices. The long term trend is just 4%pa, despite growth getting above 10%pa at times.

A quick look comparing cities in Auckland and Wellington shows that the outer suburbs of Wellington have a different price structure from both Wellington and all major cities of Auckland. This may simply be the impact of pricing by the MBIE driving down private rentals in those markets, because Hutt and Porirua are dominated by MBIE housing. Waitakere rents have not kept pace with the rest of Auckland, dropping close to Porirua average prices.

Jonette 2011