March 6, 2019

Are the best rental yields in central Whangarei or outskirts of town?

Right Now, The Highest Rental Yield is in Morningside/Raumanga/Maunu. Will It Last?

MBIE’s market rent calculator at Tenancy.govt.nz keeps good records of bonds lodged around Whangarei’s five areas.

While MBIE acts as an anchor on the market, providing solid facts and figures to prevent people setting rent too high, it is QV (Quotable Value) that gives an instant rental yield calculator.

On QV’s Rental Analysis chart, we can toggle the numbers to see which of Whangarei’s five areas is giving the greatest gross yield from rent, greatest annual rent change, most bonds lodged and largest (and smallest) median rent.

The busiest part of town doesn’t always return the greatest rent yield

The current stats show us that over the August 2018-January 2019 period, the area lumped together as Ngunguru/Onerahi/Whangarei Heads/ Waipu had the largest number of bonds lodged, commanded the highest median rent and had the highest median e-valuations.

However the greatest rental yield was Morningside/Raumanga/Maunu where a 12.9% annual rent change has occurred, giving a current rental yield of 5.3% - well higher than any other part of Whangarei.

MBIE Figures ShowSame Rental Trends in Whangarei

There are slight discrepancies between QV’s figures andMBIE’s due to different dates measured. Regardless, the trends are the same.Here are the figures from MBIE for comparison, 1 August 2018-31 Jan 2019.

Morningside/Raumanga/Maunu(Whangarei) : Low rent – median rent – highest rent $308 - $385 - $450

Ngunguru/Onerahi/WhangareiHeads/Waipu : Low rent – median - highest - $350 - $420 - $490                

WhangareiCentral/Otangarei (Whangarei) : Low rent – median - highest $300 - $360 - $420

Kamo/Tikipunga/Kensington(Whangarei) : Low rent – median – highest $350 - $400 - $460

North West Rural(Whangarei) : Low rent – median – highest $326 - $380 - $450

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