Rents stall around New Zealand
New Zealand’s rental market is slowing down with the national median rent staying at $360 for the third month in a row, reveals the latest Trade Me Property rental data.
Even in Auckland, median rents have now stalled. In October, the median rent eased back slightly to $495 per week from $499 in August and September.
In Christchurch, the median rent continues its decline as supply from the city’s rebuild continues to come on to the market.
In October, it was down to $420 per week from its March peak of $495 per week. This means median rents in Christchurch have fallen by 6.7% over the past 12 months.
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