Fresh highs for rents

This means tenants are paying an extra $35 a week or $1,820 more a year than last year, Trade Me’s May Rental Price Index shows.

Auckland is now the most expensive region in the country to rent, after the median weekly rent asking price rose to $660 last month – up 10% in just 12 months.

Meanwhile, the latest rental data from Tenancy Services shows rents are again on an upwards trajectory. The Bond Centre received 11,157 tenancy bonds in April, down from the 11,802 it received in April last year. The bonds reflect the rents being charged for new tenancies and set a benchmark for other landlords. The national average rent during April sat at $575 a week, a rise of $25 a week compared to April last year.

Trade Me property sales director Gavin Lloyd says It appears that after the large pay increases throughout last year, landlords are still feeling confident to ask for more.