Rental Yield Indicator

Indicative gross rental yields for three bedroom houses in 56 selected areas with high rental activity during the previous six months. Based on REINZ lower quartile selling prices and median rents recorded by Tenancy Services' Bonds Centre in each area over the previous six months.
Town/region Yield % Mar-2017 Yield % Dec-16 Yield % Sep-16 Yield % Jun-16 Yield % Mar 16 Yield %
Dec-15
Yield %
Sep-15
Yield %
Jun-15
Yield %
Mar-15
Yield %
Dec-14
Yield %
Sep-14
Yield %
Jun-14
Whangarei - Kamo/Tikipunga/Kensington 5.4 5.4 5.9 6.1 6.0 5.6 7.1 6.5 6.9 7.6
6.4
5.9
                     
 
 
Rodney - Orewa/Whangaparaoa 4.0 3.8 3.9 4.1 4.1 4.1 4.3 4.5 4.5 4.6
4.8
4.2
                     
 
 
North Shore:                    
 
 
Beachhaven/Birkdale 3.7 3.7 3.7 3.7 3.9 3.8 3.9 4.0 4.3 4.3
4.6
4.9
Torbay 3.7 3.6 3.4 3.6 3.8 3.6 3.8 4.0 4.5 4.6
4.5
4.5
                     
 
 
Waitakere:                    
 
 
Glen Eden 4.0 3.8 3.7 3.9 4.0 4.0 4.1 4.3 4.6 4.9
5.1
5.0
Massey/Royal Heights 4.0 3.9 3.8 4.1 4.1 4.0 4.1 4.4 4.6 4.9
5.1
5.0
Henderson 3.9 3.8 3.8 3.8 4.1 4.1 4.1 4.4 4.7 4.9
5.0
5.3
                     
 
 
Central Auckland:                    
 
 
Avondale 3.6 3.6 3.7 3.6 3.7 3.7 3.9 4.1 4.2 4.4
4.5
n.a
                     
 
 
Manukau:                    
 
 
Highland Park 3.5 3.5 3.4 3.3 3.3 3.6 3.6 3.8 3.8 4.1
4.3
4.6
Papakura/Drury/Karaka 4.3 4.4 4.4 4.7 4.8 4.8 4.9 5.5 5.6 5.9
6.0
6.0
Franklin - Pukekohe/Tuakau 4.6 4.4 4.3 4.5 4.9 5.0 5.0 5.3 5.5 5.6
5.6
5.8
                     
 
 
Hamilton:                    
 
 
Deanwell/Melville/Fitzroy 4.8 5.0 5.1 5.4 5.3 5.5 6.2 6.8 6.9 6.9
6.9
6.9
Fairfield/Fairview Downs 4.9 4.8 4.8 5.1 5.4 5.7 6.0 6.8 6.7 6.2
7.0
6.9
Te Kowhai/St Andrews/Queenswood 4.4 4.3 4.6 4.7 4.7 4.9 5.3 5.4 5.4 5.6
5.8
5.5
                     
 
 
Cambridge/Leamington 4.6 4.6 4.7 4.8 5.2 5.3 5.2 5.5 5.5 5.6
5.9
5.9
                         
Te Awamutu 5.0 5.1 5.2 5.2 5.7 6.2 6.3 6.5 6.2 6.3
6.4
6.0
                     
 
 
Tauranga:                    
 
 
Tauranga Central/Greerton 4.6 4.4 4.3 3.7 5.2 5.2 5.6 6.0 6.1 5.9
5.9
n.a.
Bethlehem/Otumoetai 4.1 3.7 4.2 4.2 4.6 4.8 4.8 4.5 4.8 5.3
5.4
5.2
Mt Maunganui 4.4 4.2 4.2 4.4 4.8 4.6 4.7 5.4 5.7 5.6
5.2
5.2
Pyes Pa/Welcome Bay 4.8 4.8 4.9 4.8 5.4 5.5 5.3 5.9 5.7 5.7
5.8
5.7
Kaimai/Te Puke 5.3 5.4 5.5 5.6 5.8 5.9 6.2 6.4 6.2 6.2
5.7
5.6
                         
Whakatane 6.1 5.8 6.5 6.6 6.4 7.1 7.3 6.7 6.3 6.7
6.9
n.a.
                         
Roturua:                        
Holdens Bay/Owhata/Ngapuna 8.0 9.7 10.7 9.4 8.7 8.3 8.7 n.a. n.a. n.a. n.a. n.a.
Kuirau/Hillcrest/Glenholm 4.9 7.3 7.5 6.4 5.9 6.3 6.6 n.a. n.a. n.a. n.a. n.a.
Ngongataha/Pleasant Heights/Koutu 8.6 8.2 7.2 7.9 7.7 8.0 8.2 n.a. n.a. n.a. n.a. n.a.
                         
Hastings - Flaxmere 8.9 8.6 9.4 9.3 10.9 11.5 11.0 12.1 12.2 11.7
11.8
12.0
                     
 
 
Napier - Taradale 5.0 4.9 5.1 5.5 5.4 5.6 5.5 5.3 6.2 6.3
6.1
6.1
                         
Taranaki:                        
New Plymouth Central/Moturoa 4.7 5.3 5.1 5.4 5.8 5.4 5.5 n.a. n.a. n.a. n.a. n.a.
Waitara/Inglewood 8.1 7.0 7.7 7.7 8.8 8.9 8.0 n.a. n.a. n.a. n.a. n.a.
                         
Whanganui 9.1 9.7 9.7 10.3 9.6 10.0 14.9 n.a. n.a. n.a. n.a. n.a.
                         
Palmerston North:                        
Kelvin Grove/Roslyn 6.6 6.6 7.0 7.3 7.4 7.2 7.2 n.a. n.a. n.a. n.a. n.a.
Palmerston North Central 5.9 5.6 6.5 6.3 5.6 5.5 6.2 n.a. n.a. n.a. n.a. n.a.
Takaro/Cloverlea/Milson 6.1 6.3 6.7 6.8 7.2 7.1 7.3 n.a. n.a. n.a. n.a. n.a.
                     
 
 
Kapiti Coast:                    
 
 
Paraparaumu/Raumati 4.8 5.3 5.6 5.7 5.9 6.0 6.1 6.2 6.1 6.1
5.9
n.a.
Waikanae/Otaki 5.2 5.5 5.8 5.8 5.9 6.5 6.8 6.6 6.7 5.5
5.4
6.1
                     
 
 
Upper Hutt:                        
Heretaunga/Silverstream 4.7 4.6 5.3 5.6 5.8 5.8 6.1 n.a. n.a. n.a. n.a. n.a.
Totara Park/Maoribank/Te Marua 5.8 5.2 5.7 6.2 6.3 6.2 6.8 n.a. n.a. n.a. n.a. n.a.
                         
Lower Hutt:                        
Epuni/Avalon 5.1 5.6 5.1 5.5 5.8 5.2 5.1 n.a. n.a. n.a. n.a. n.a.
Taita/Naenae 5.8 6.1 6.2 6.5 6.8 6.9 7.1 n.a. n.a. n.a. n.a. n.a.
Wainuiomata 5.9 6.3 7.0 7.2 7.7 7.7 7.7 n.a. n.a. n.a. n.a. n.a.
                         
Wellington:                    
 
 
Johnsonville/Newlands 4.9 4.8 4.8 5.2 5.5 5.4 5.6 5.8 5.6 5.5
6.2
5.9
Vogeltown/Berhampore/Newtown 4.2 4.1 4.6 4.9 5.4 5.2 5.5 5.1 5.5 5.2
5.6
5.8
                     
 
 
Tasman:                    
 
 
Motueka 4.0 4.0 4.7 5.3 5.2 5.4 5.3 5.3 5.5 5.6
5.5
5.2
Richmond/Wakefield/Brightwater 4.7 4.6 4.8 5.3 5.3 5.3 5.5 5.6 5.6 5.8
5.9
6.0
                         
Nelson - Stoke/Nayland/Tahunanui 5.1 5.1 5.2 5.3 5.5 5.7 5.8 5.9 5.7 5.7
6.0
6.0
                         
Blenheim 5.8 6.3 6.5 6.5 7.0 7.0 6.4 6.5 6.5 6.6
6.5
6.1
                     
 
 
Christchurch:                    
 
 
Hornby/Islington/Hei Hei 5.6 5.7 6.1 6.1 6.0 6.0 6.2 6.2 6.3 6.5
6.3
6.4
Riccarton 5.0 5.2 5.5 5.0 5.7 5.0 4.9 5.9 5.2 4.9
5.1
5.7
Woolston/Opawa 6.2 6.5 6.6 7.4 6.3 6.4 6.6 6.8 7.3 7.2
8.0
7.9
                         
Ashburton 8.3 8.4 6.3 6.1 6.2 7.0 6.9 7.0 6.8 6.7
7.2
6.8
                     
 
 
Timaru 6.0 5.9 6.1 6.4 6.5 6.4 6.2 6.6 6.8 6.7
6.3
n.a.
                     
 
 
Queenstown/Frankton/Arrowtown 4.3 4.1 4.5 4.3 4.6 5.2 5.0 4.8 4.9 4.7
5.3
5.4
                     
 
 
Dunedin:                        
Kenmure/Mornington 7.5 6.5 6.3 6.7 7.9 7.1 6.6 n.a. n.a. n.a. n.a. n.a.
Mosgiel 5.5 5.7 5.7 5.7 6.4 6.4 6.1 n.a. n.a. n.a. n.a. n.a.
South Dunedin/St Kilda 7.9 7.5 8.1 7.4 7.2 8.0 8.2 n.a. n.a. n.a. n.a. n.a.
                         
Invercargill 8.3 7.9 8.3 8.4 8.7 9.1 9.0 6.7 9.0 9.2
9.5
n.a.

Source : REINZ / MBIE

*Yield is a property's annual rent expressed as a percentage of its purchase price. The indicative yield figures in this table are gross, and are calculated from the REINZ's lower quartile selling price for each area during the previous 6 months, and the median rent for three bedroom houses calculated from new tenancy bonds received by the Ministry of Business Innovation and Employment for the same areas/period. This gives an indication of the gross rental yield that would have been achieved in each area if a property was purchased at the lower quarter price and rented at the median rent for that area.