New Year brings rent spike

New Year brings rent spike

New Zealand’s median weekly rent saw a sharp jump in the first month of 2016 according to the latest Trade Me Property Rental Index.

Head of Trade Me Property Nigel Jeffries said the national median asking rent went from $420 to $435 between December and January, a stark contrast to the rest of 2015 which showed very slow growth.

“We weren’t surprised to see a rent correction in January – it’s a trend we see each year as many land-lords look to adjust their rental incomes at the start of the year. Looking back, last January we saw rents rise by $20 per week, then remain pretty flat for the rest of 2015.”

The full Trade Me Property Report can be found here

ENDS

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