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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.
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La mediana del alquiler semanal de Nueva Zelanda aumentó a $635 en octubre, pero los listados alcanzaron un máximo de 10 años cuando la demanda cayó.