Rent hikes in Auckland have bucked the national trend. Photo / Thinkstock
Rent hikes in Auckland have bucked the national trend. Photo / Thinkstock
Rent hikes in Auckland have bucked the national trend, reaching a median weekly high of $490, Trade Me data shows.
Numbers released by Trade Me Property today show rents in Auckland have increased by 6.5 per cent in the year to May 2015.
Rental increases are slowing in most ofthe country with the national median rent hovering at $420 since January.
Trade Me Property's Nigel Jeffries said Auckland tenants were now paying at least $3500 more than tenants nationwide.
"It's an all too familiar scenario for those renting in the Super City - we've seen the average price of houses explode and the rental market continues to follow a similar trajectory," he said.
May had been the "weakest" month for median rent prices in New Zealand but that did not mean it was cheap, he said.
The weakest region in May was Gisborne, which was down 9.2 per cent compared to 2014, followed by Otago, which was down 6.3 per cent.
The Trade Me Property Rental price Index measures trends in expected weekly rents for residential properties on the site, with about 12,000 rented every month.
