Wondering what are the most affordable neighbourhoods in Auckland?
The most affordable neighbourhoods in Auckland are Auckland Central, Wellsford, Manukau, Henderson Valley, Clendon Park, Tuakau, Randwick Park, Waiuku, New Market, and Eden Terrace.
This due to their real estate sale prices or rent prices being below the Auckland or even national average.
Let’s check out some of the relevant figures for each one so you can get an idea of the property costs in each place.
|Median Listing Price||395,000 NZD||NA||479,000 NZD|
|Median Weekly Rent||495 NZD||800 NZD||450 NZD|
|Median Yield %||6.52%||NA||4.89%|
*All current real estate statistics taken from realestateinvestar.co.nz
Auckland Central is the most affordable neighbourhood in terms of its real estate prices for purchasing properties. Despite what some may expect from its central location, it remains the cheapest area to invest in real estate because of its abundance of affordable, compact flats.
That said, families may be unable to get the most out of living in Auckland Central as there are not many suitable places for young children.
However, young professionals and couples can take advantage of the affordable real estate rates to begin an independent life and get their own property while prices are still reasonable.
If planning on purchasing an apartment in Auckland Central, by the way, do keep in mind that apartment buildings often see less appreciation than other types of real estate. Buy apartments more for a place to live than an investment to cash in on later.
|Median Listing Price||809,000 NZD||NA|
|Median Weekly Rent||545 NZD||390 NZD|
|Median Yield %||3.50%||NA|
Wellsford is the penultimate suburb before Northland, and it’s the cheapest in rent for apartments. Although prospective renters can select from a variety of detached homes to rent too, most are far out from the suburb center.
Whether renting an apartment or a home in this town, there’s only one major downside to think about: renters should be prepared for a lengthy commute if working in the heart of Auckland.
|Median Listing Price||749,000||NA||537,000 NZD|
|Median Weekly Rent||645 NZD||635 NZD||440 NZD|
|Median Yield %||4.47%||NA||4.26%|
It’s worth noting that Manukau, like many of its neighbouring suburbs, has many flats, which helps keep the average sales price down. Hence, the rent for apartments in Manukau is cheaper than renting a house.
Still though, the rent for houses in Manaukau is reasonable for those who prefer to stay in a suburban home over a compact apartment.
|Median Listing Price||1,039,000|
|Median Weekly Rent||650 NZD|
|Median Yield %||3.27%|
In Henderson Valley, most properties on the real estate market have already surpassed the 1 million NZD national average. Despite this, savvy first-time home buyers may still be able to discover a deal under a million in this area rich in natural beauty.
Anyway, the real reason we recommend Henderson Valley as an affordable neighbourhood is that the average rent for homes is still under the seven hundred market.
However, do note that there are few apartments in Henderson Valley available on the real estate market for sale or rent. They also tend to be snapped up quickly.
|Median Listing Price||829,000 NZD||NA|
|Median Weekly Rent||620 NZD||545 NZD|
|Median Yield %||3.89%||NA|
Located west of Manurewa, this tiny community is a cultural melting pot. There is a nice variety of both older and newer single-family homes on the market, making this an interesting area to watch for first-time buyers.
Especially attractive to renters are the many budget-friendly apartment units that are scattered throughout the town.
|Median Listing Price||894,000 NZD||NA|
|Median Weekly Rent||550 NZD||420 NZD|
|Median Yield %||3.20%||NA|
This suburb on the edge of Auckland and Waikato has a steady population because it serves the needs of local farmers. That’s while remaining distant enough from the city centre to avoid rapid expansion in recent years.
That’s why housing and apartment rent prices are still affordable for people moving to this neighbourhood.
|Median Listing Price||849,000 NZD|
|Median Weekly Rent||620 NZD|
|Median Yield %||3.80 %|
Randwick Park is a popular neighbourhood in Auckland as it’s a vibrant suburb with all the amenities and local parks that anyone could want. It’s a quaint neighbourhood suitable for families and anyone looking for a quieter life.
And again, this is another place where rent is more affordable than most.
|Median Listing Price||882,500||NA||NA|
|Median Weekly Rent||580 NZD||460 NZD||420 NZD|
|Median Yield %||3.42%||NA||NA|
Waiuku is a rural neighbourhood on the edge of the Waikato region, close to the stunning white Peninsula. It’s an hour’s drive from the central business district (CBD) if you hit no traffic.
Therefore you should expect slightly lower average asking prices in rent for apartments, townhouses and houses.
Additionally, it is still possible to purchase a house and land here for under $900,000, which is far less than the national average of a million.
|Median Listing Price||NA||NA||829,000 NZD|
|Median Weekly Rent||710 NZD||890 NZD||550 NZD|
|Median Yield %||NA||NA||3.45%|
In Newmarket, there are mainly apartments, both older and newer high-end buildings and a few bungalows and villas in the housing market.
Many people move to this slightly affordable area because Newmarket holds New Zealand’s best shopping and dining district, with a wide variety of establishments ranging from high-end cafes to designer stores.
|Median Listing Price||NA||NA||769,500 NZD|
|Median Weekly Rent||750 NZD||695 NZD||530 NZD|
|Median Yield %||NA||NA||3.58%|
Eden Terrace’s location near Kingsland and K Road makes this the second-smallest suburb in the Auckland region a prime choice for those seeking a city-fringe setting.
Eden Terrace has many flats and a variety of restaurants with some of the most diverse cuisines in Auckland.