Just released March rental statistics from the Property Investors' Federation show that rents in Napier have continued to grow over the past year.
"There have been so many cost and regulatory increases over the last few years that it isn't a surprise that rental prices are increasing as they are," NZPIF executive officer Andrew King said. "Unfortunately the situation looks likely to continue."
In order to remove monthly variations, the New Zealand Property Investors' Federation has averaged three months of rental prices for the year ended March 2018, and compared that to the same period in 2017.
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In Napier, the NZPIF show that rents rose about 6.5 per cent to an average of $380 a week. That equates to an increase of about $25 on the same period the previous year - and slightly higher than the national average increase.