House-hunters will surely have trouble finding an affordable place to rent as the median weekly rent jumped to $450 nationally.
• Rents shot up at the end of 2016 to hit record highs, & they’re expected to climb even higher in the coming months.
• Figures from the Trade Me Rental Index showed the median weekly rent jumped to a record $450 nationally at the end of 2016.
• Trade Me Property says price rises accelerated significantly at the end of 2016, with the capital leading the charge.
• With January & February usually the hottest in the rental market, one wouldn’t be surprised to see the median weekly rent hit another record.
Read full article »
Stay tuned to the latest property news summaries, sent to your inbox weekly – sign up here.