New Zealand's median weekly rent rose to $635 in October, but listings hit a 10-year high as demand fell.

Rental prices in New Zealand rose 0.8% in October, with the median weekly rent reaching $635, up from September. Despite the increase, rental listings hit a 10-year high, and demand dropped to a four-year low, indicating potentially stable future rents. Rents for larger properties in major cities like Auckland and Wellington have decreased significantly, potentially attracting tenants looking for more space.

November 13, 2024
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