High demand makes for rent rises

New Zealand’s national median weekly hit $495 in March after climbing 5.3% on last year, according to the latest Trade Me Rental Price Index.

Further, the data reveals that every region in the country experienced a year-on-year increase in rent for the first time in five months.

Trade Me’s Head of Rentals Aaron Clancy says there’s high demand for rentals nationwide with a significant 28% increase in the number of enquiries in March, as compared to March 2018.

“Demand for rentals is very high right across the country and, in most places supply is not keeping up.