“It’s rare to see increases across the board but that’s just a mark of the New Zealand rental market - it’s hot nationwide.”
The biggest annual rises were in Southland, where rents were up by 16.7 per cent to $350 a week, and Manawatu/Whanganui, where they were up by 15.8 per cent to $440 a week.
While rents in the Bay of Plenty were up by just 4.9 per cent, the median weekly rent hit a new record of $535, which made it the only region to hit a new record in November.
Nationally, supply was up by 6 per cent in November when compared with the same month last year.