How Much Does it Cost to Rent a House in Taranaki?

a houseThe price of houses for rent in Stratford or Taranaki, in general, may depend on several factors, including the number of rooms.

Weekly rental prices for a two-bedroom house in the South Taranaki — Hawera and Rural South regions cost between $220 and $165 on average as of the end of February 2017. On the other hand, the rates for a three-bedroom house cost between $230 and $265 on average.

Nationwide Rates

The place where you plan to rent definitely makes it more or less expensive than the rates in the Taranaki region. However, those who look for rentals in the city should expect to pay a higher price. This applies to the three largest cities in the country.

In Wellington, the weekly median price amounted to $485 in the previous month. Rents in Auckland fell in the same period, although it remains expensive at $540 per week. Tenants in Christchurch paid the lowest figure among the three markets with an unchanged rate of $400 in the last four months.

High Home Prices

Despite the relatively high rental prices, a home purchase likely remains less affordable for Kiwis. Real Estate Institute of New Zealand’s data showed that home values nationwide reached $560,000 in March, up 1.8 percent year over year.

Excluding Auckland, the median home price still increased to a record amount of $460,000. The price growth bodes well for home-owners, especially those in Gisborne where prices surged by almost 18 percent to $330,000.

Houses in Hawke’s Bay and Wellington also registered double-digit price appreciation, up 11.7 percent and 10 percent to $445,000 and $583,000, respectively.

Conclusion

Your budget would still determine whether you plan to buy or rent a home in New Zealand. These figures may still change, so make sure to shop around for different properties in as many places as you can before making a decision.