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The national median weekly rent for newly tenanted properties increased by $15 a week (+2.7%) over the 12 months to the end of March this year.
The latest data, based on bonds lodged with Tenancy Services each quarter, shows the national median residential rent increased from $550 a week in the first quarter (Q1) of last year to $565 in Q1 this year.
However there were significant differences in the annual rate of rent increases between the main urban districts. Rents increased at a lower rate (up to 5%) in Whangarei, Auckland, Hawke’s Bay, the Wellington Region, Timaru and Invercargill, and above 5% in all other districts. Read more
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News category: New Zealand, News Shorts.
