New Zealand's rental market sees listings surge, driving median rent down to $630 weekly.

New Zealand's rental market saw a 36% increase in listings year-over-year, with a 4% rise month-over-month. This oversupply has led to a median weekly rent of $630, down from $635 in October. The Bay of Plenty is the most expensive region at $675 per week, followed closely by Auckland at $670. While 1-2 bedroom properties saw slight rent increases, larger properties in Auckland saw decreases, and Wellington's apartments and townhouses experienced a 2.5% drop in rent.

3 months ago
4 Articles