Trade Me data shows double digit rent increases, but momentum is slowing

The pace of rent increases has slowed in recent months. (Image: Getty)

Wed, 26 Jul 2023

Median rental prices hit a record high in June, but momentum appears to be slowing according to recent Trade Me rental data.Trade Me director of property sales Gavin Lloyd said median rent across the country in June 2023 rose by $50 to $620, or 8.8%, on June 2022, according to the company’s rental price index. A major imbalance between supply and demand also emerged over the year with Trade Me recording demand for rentals rising by 35% on the year in June while the number of properties available for rent dropped by 19%. Ho...

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