Auckland steadies as regions climb
Auckland’s median rent held at $660 for a second consecutive month, after a year of annual declines. Wylde described the city’s stabilisation as “a milestone for the broader market”, given it had been the main drag on national figures for much of the past 12 months.
Elsewhere, 10 of the 14 regions recorded annual increases. Northland and Waikato both rose 3% to $600, while Southland and Marlborough each climbed 4%, to $500 and $580 respectively. Hawke’s Bay was the weakest, falling 3% to $600, and Bay of Plenty slipped 2% to $640.
Large homes in Christchurch are now renting for more than their Auckland equivalents. The median weekly rent for a home with five or more bedrooms reached $1,110 in Christchurch, $110 more than in Auckland and $190 more than in Wellington.
“It’s a striking sign of demand for larger family homes in Christchurch,” Wylde said, noting that Canterbury reached a record median rent of $600 in August.
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