16 Jan 2017

Average rent on the rise across the country - Trade Me

4:33 pm on 16 January 2017

Online advertising indicates average residential rents are on the rise in many regions.

Wellington houses

Wellington's median weekly rents rose 9.8 percent to $450 a week in December, compared to the previous December, according to Trade Me. Photo: CC BY-NC-ND 2.0 Jared Kelly / Flickr

Online advertising portal Trade Me said national median rents rose 7.1 percent in December to $450 a week compared to the same time a year earlier, which was the biggest rise of its kind recorded last year.

"We've seen rents across the country grow pretty sharply from October, and we expect to see further jumps in January when landlords reassess the financial equation for their investment property and when a number of tenancies come up for renewal," Trade Me Property head Nigel Jeffries said.

Wellington's median weekly rents rose 9.8 percent to $450 a week, with strong increases in Marlborough, Hawke's Bay, Waikato and Bay of Plenty.

However, Auckland's average weekly rent dipped $10 to $510 a week, while Christchurch's average rent fell 5 percent on the year earlier to $400 a week.

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