MARKET REPORT – September 2017

Urban rentals showing increased returns

The cost of renting apartments, townhouses and units in New Zealand is now more expensive than ever as the median weekly rent increased by 6.3 per cent in the last year to $420, according to the latest Trade Me Property Rental Index.

Head of Trade Me Property Nigel Jeffries said urban properties (which are made up of apartments, townhouses and units), are proving popular with Kiwi renters for a number of reasons. “Urban properties are typically warmer, drier and in a better, inner-city location than your average house, and now tenants around the country can expect to pay a premium for them.”