What is the most expensive city to rent in?

What is the most expensive city to rent in?

Wellington is now the most expensive city to rent in across New Zealand, new figures show.

It has a median weekly rent of NZ$595, and the December Trade Me Rental Price Index shows that figure rose 5.8 per cent year-on-year as at December 2018.

Head of Trade Me Rentals Aaron Clancy says rental prices typically dip in December as Kiwis head off on their summer holiday, however, that was not the case for the capital, as some tenants tried to beat the rental rush.

“Tenants in the capital have become accustomed to the annual rental madness that hits the region around January and February,” Clancy says.

“This year it appears many tried to beat the rush and secure a property before 2019 had even begun.”

Rents in Auckland city were unchanged on the year before, at NZ$550 per week.

“Tenants in the capital city can now expect to pay NZ$780 more a year than those in Auckland,” he says.

Clancy says the national median weekly rent remained stable for the fifth month in a row at NZ$480, up 4.3 per cent on the year before.

First published 30 January 2019

This article does not contain any financial advice and has not taken into account any particular person’s circumstances. Before relying on it, we recommend you speak with a financial adviser.  This story reflects the views of the contributor only. Content comes from sources that we consider are accurate, but we do not guarantee that the content is accurate.


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