Rent increases powering way ahead of inflation

Rent increases powering way ahead of inflation

Following the annual New Year rent adjustment, New Zealand’s median weekly rent fell $5 in February to $430 according to the latest figures in the Trade Me Property Rental Index.

Head of Trade Me Property Nigel Jeffries said that while rents were down on January, the overall weekly rent figure was up 4.9 per cent on February last year.

“February has seen rents settle after the January spike, but it’s still a pretty difficult market for renters at the moment. Rents are easily outstripping inflation which was up just 0.1 per cent in the final quarter of last year.”

The full report is available here

ENDS

© Scoop Media