Rents go up in east Manukau

Wednesday, 02 July 2008

By NATASHA WALLIS

• Howick and Botany TimesBEAUTIFUL beaches and top schools are increasing the demand of rentals in east Manukau and causing rent prices to soar. Recent figures from Rutherford First National show that rentals have risen up to 10 per cent over the last year in Howick, Pakuranga and Dannemora areas. First National principal Jon Simpson says immigrant families are coming to Auckland for work and wanting to live in areas with positive lifestyle benefits.“We’re attracting a good calibre of people, and they’re coming with jobs here.”He says Howick, Pakuranga and Dannemora are popular because of the convenient location, great beaches and range of high decile schools. Mr Simpson says some people are choosing to rent rather than buy until houses prices come back down. “Others are renting while they assess the market or the area, or are waiting for a favourable exchange rate.”The rise in rentals is also caused by home owners wanting a return on the value of their property, Mr Simpson says. “Most are settling for around a 5 to 6 per cent return.”

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Rents go up in east Manukau