Christchurch people are paying the highest rents in the country, with latest figures from Trade Me showing the asking price has surged by 25 percent in a year.
Trade Me Property says that for the first time Canterbury's average asking price has topped Auckland's.
In the three months to September, the average property rental in Canterbury was just over $500 a week, compared with $480 in Auckland.
The head of Trade Me Property, Brendon Skipper, says the rise in rents is despite a 4% increase in availability compared with the same time last year.
Brendon Skipper says the average rent in Auckland has risen 2% compared with the same period last year, with the rest of the country also flat.
Supply in the Auckland region has risen 5%, and the number of 5-bedroom properties has jumped by 50%.
Mr Skipper says it is too early to see any effect from the new loan-to-value lending ratios.
