Rents rise to regional record
Auction website Trade Me Property’s rental statistics for March show the country’s median advertised rent was up 4.4 per cent on last year, to $470 a week. Taking Auckland, Wellington and Christchurch out of the calculation, it was up 6.8 per cent to a record $395. Some regions shot ahead: Hawke’s Bay’s rent prices were up 14.3 per cent year-on-year; Manawatu/Wanganui’s were up 10.3 per cent; and Nelson/Tasman’s were up 10.5 per cent. Auckland looked to have slowed a little – the city’s median asking rent was up 4.9 per cent for the year but down 1.8 per cent compared with February. There was still strong demand, head of Trade Me Property Nigel Jeffries said.