Auckland rents at a standstill

Median rent remains at $600 a week, marking an increase of 1% year-on-year and is now $10 below the March record-high.

Following Auckland’s lead, Wellington’s median weekly rent of $600 has stayed at that level for the second month in a row, Trade Me data show.

Across the country, more rentals were listed on Trade Me than any September on record, with a 31% year-on-year jump. “Pre-pandemic, in September 2019, there was just a 7% jump in rental market supply.

In Auckland, the number of rentals listed rose 51% year-on-year, the biggest increase in all regions. Wellington was not far behind with supply spiking 49%. Trade Me property sales director Gavin Lloyd says more options for renters are reflected in the both region’s stagnant rent prices.