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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.
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El mercado de alquiler de Nueva Zelanda ve un aumento en los listados, conduciendo la mediana de alquiler a $630 semanales.