New Zealand rents remain at all-time highs in August

WELLINGTON, Sept. 28 (Xinhua) — New Zealand’s average weekly rent remained at NZ$580 for the second consecutive month in August, the highest ever recorded earlier this year, according to Trade Me’s latest rental prices. matched the value. The index released on Wednesday.

Trade Me property sales director Gavin Lloyd said average weekly rents across the country reached NZ$580 for the first time in April. “Then rents fell for two straight months, returned to all-time highs in July, and remained flat last month.”

Lloyd said renters across the country were happy to hear prices didn’t rise month-on-month in August, but as prices remain at all-time highs, it’s still hard to get tenants. It’s not easy.

Compared to August 2021, the national median weekly rent rose 5% last month. (1 New Zealand Dollar is equivalent to 0.57 USD)