“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.
Tuesday, 22 December 2020, 9:04 am
New Zealand’s national median weekly rental price
finished off the year 21 per cent higher than it was at the
end of 2015 according to the latest Trade Me Rental Price
Index.
Trade Me Property spokesperson Logan Mudge said
the national median weekly rent was $520 last month, marking
a 4 per cent increase on the same month in 2019 and a 21 per
cent increase on this time in 2015. “November’s median
weekly rent matched the all-time high we first saw in
February this year.”
Nationally, supply was up by 6
per cent in November when compared with the same month last
This has driven the median rent price up another 4 percent to $520, said Trade Me property spokesperson Logan Mudge. And if you re after a typical medium-sized family home, as opposed to an apartment, you re looking at around $590 a week. This is the biggest year-on-year increase in supply we have seen since June. However, with demand sky-high, up by a whopping 20 percent year-on-year, rental prices around the country have stayed very high.
Since 2015, the median rent demanded by landlords has risen 21 percent. Over that same time period, the median house price according to the Real Estate Institute of NZ has increased 64 percent - from $456,000 in November 2015 to $749,000 now.
Trade Me s latest Property Price Index released on Thursday shows the national average asking price rose 12.5 percent year-on-year in November to reach $762,700. Earlier in the year, it was anyone s guess where the market was heading, but November proved itself to be yet another month of house price inflation, Trade Me Property spokesperson Logan Mudge said. Typically summer is when we see the market really take off and we re not seeing signs this year will be any different.
Auckland continues its hike north, up 10 percent on last year with an average price of $1,022,300, while Wellington hit a new record for the third month in a row with $761,300.
Thursday, 17 December 2020, 8:36 am
New Zealand’s property market is finishing off the year
with a bang, with the national average asking price reaching
an all-time high in November, according to the latest Trade
Me Property Price Index.
Trade Me Property
spokesperson Logan Mudge said the national average asking
price rose 12.5 per cent year-on-year in November to reach
$762,700. “As the weather heats up, we’re continuing to
see house prices around the country head north, with
November marking the third record-breaking month in a
row.”
Mr
Mudge said house prices had continued to go from
strength-to-strength this year despite some predicting they