The national median weekly rent reached a record breaking $545 last month.

“Prior to June, the national median rent sat at $540 from March to May – giving tenants around the country a moment to catch their breath,” says Gavin Lloyd, Trade Me Property sales director.

However, June data showed rents are back on the rise, with record highs seen in a number of regions around the country.

“This comes down to the lack of national market supply, with the number of rental properties listed onsite down by 7% in June when compared with the same month last year,” says Lloyd.

Townhouse rents reached a record high. When compared with June last year, the national median weekly rent for townhouses increased by 7%.

Rents for all other urban properties had a year-on-year increase, with the median weekly rent for units in Auckland reaching an all-time high of $495 per week.

For houses, the median weekly rent for all sizes increased in every region, with the exception of small – one to two-bedroom – houses in Christchurch.

Lloyd says all-time high median weekly rents were seen in Taranaki ($470), Manawatū/Whanganui ($475), and Gisborne ($565).

The only spots that did not see a year-on-year increase in rents were Marlborough and Otago, which were both flat on June last year.

Surprisingly, demand for rentals also dropped 1% year-on-year, when compared with the same month last year. But a closer look at the regions, reveals demand was up in a number of places around the country.

The biggest increases were in Taranaki (20%), Nelson/Tasman (17%) and Otago (16%).

Lloyd says more rent increases are on the horizon.

“Right now we are in the depths of winter which tends to be the quietest period for the rental market.

“Rents are likely to continue rising later in the year as landlords pass their increasing costs on to tenants.”

Auckland’s median rent

In the Auckland region, the median weekly rent was $590 in June. “This is the same median weekly rent that has hovered since January.”

Although this marks no change since the start of the year, it’s a 4% increase when compared with June 2020.

Looking at Auckland City alone, the median weekly rent was $560.

Auckland’s most expensive districts in June 2021

Demand for rentals in the Wellington region was down by 10% last month when compared with the same month in 2020, while supply was down by 6%.

The most popular rental in the region was a one-bedroom unit on Palliser Road in Roseneath, for $330 per week. The property received 74 enquiries in its first two days on Trade Me.