scoop.co.nz 22 Mar, 2021 20:00 am

Regional Rents On The Rise While City Rents Remain Stagnant

Regional Rents On The Rise While City Rents Remain Stagnant
Strong rent growth in the regions drove the national median weekly rent up 2 per cent year-on-year in February, according to the latest Trade Me Rental Price Index. Trade Me Property Sales Director Gavin Lloyd said every region across the country ...

Strong rent growth in the regions drove the national median weekly rent up 2 per cent year-on-year in February, according to the latest Trade Me Rental Price Index.Trade Me Property Sales Director Gavin Lloyd said every region across the country saw a year-on-year increase in median weekly rent in February and the biggest increases were seen in Manawatu/Whanganui (16%), Hawke’s Bay (15%), and Taranaki (13%).Northland also had a standout month, with the median weekly rent hitting $500 for the first time.” “If we take a look at the median weekly rents in the main centres it’s interesting to see they bucked the trend and lagged behind in February.

” In the Auckland region, the median weekly rent was $590 for the second month in a row last month, jumping 4 per cent when compared with February last year.“Auckland City’s median weekly rent, however, saw no change when compared with February 2020, at $570.

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