Rental prices are up 17.6 per cent compared to this time last year for the Bay of Plenty.

Rents have also increased 33.3 per cent for the Bay in the last five years.

While New Zealand's largest cities have shown very stable rents compared to last year, the so-called 'halo effect' was having a major impact in the regions around Auckland where Bay of Plenty, Waikato and Northland have seen record jumps in rents over the last year.

Auckland's median weekly rents have risen just 4.2 per cent in the last year, while the Bay of Plenty is one of the strongest in the country with a 17.6 per cent year-on-year jump adding over $3,000 to the typical annual rent.