9 Oct 2013

Average Canterbury rental price now higher than Auckland

6:53 pm on 9 October 2013

Figures from the online website Trade Me show the average rental property price is higher in Canterbury than in Auckland for the first time.

In the three months to September, the average rent in Canterbury was just over $500 a week, a rise of 25 percent from the same period last year.

That compares with $480 in Auckland.

The head of Trade Me Property, Brendon Skipper, told Checkpoint that, a shortage in supply and pick-up in demand have pushed prices up in Christchurch.

He said that demand is likely to continue for at least the next year.

Mr Skipper predicted that prices will continue to increase in certain areas, especially in central city suburbs.