In what are traditionally the slowest months of the year for lettings, TradeMe’s latest market statistics showed a median rent increase of 10.5 percent on last year for areas outside of New Zealand’s three major cities. This saw rents reach an all-time high of $420 per week in August, according to the latest TradeMe Rental Price Index.
Auckland rents were also up with the median weekly rent in Auckland at a record high of $550 for the fifth month in a row, up 3.8 percent on last year. “Over winter, demand has kept prices high and we’re watching with interest to see what they’ll do in summer. We suspect they’re going to jump to new heights in the New Year.”
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