MARKET REPORT – July 2017

Rents unchanged for six months straight

New Zealand’s median weekly rent has not moved in the last six months according to the latest Trade Me Property Rental Index.

Head of Trade Me Property Nigel Jeffries said the typical New Zealand rental property started the year with a median weekly rent of $450 and is yet to budge. “I’m sure these numbers will be a relief for the many tenants who have felt big rises in recent years. They’ll be pleased to see the brakes have stayed on but not everyone will be happy as a number of regions are still seeing strong rent inflation.”