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flag New Zealand's median weekly rent hits record $520, but surge in listings may cool prices.

flag In January, New Zealand's national median weekly rent rose by $10, reaching a record high for units at $520 per week. flag Despite this increase, rental listings surged by 13% nationally compared to December, potentially leading to future downward pressure on prices. flag This uptick in available rentals, particularly in Auckland, Wellington, and Canterbury, could make the market more competitive for landlords.

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