As Auckland’s rent is rising, so does Wellington, whose rental growth is 3 times higher than that of Auckland.
• According to Trade Me Property, Wellington rents jumped 9.8% annually while Auckland’s rose only 3%, falling slightly in Dec.
• Head of Trade Me says Wellington is one of the strongest rental markets, w/ median weekly rents equaled the national median of $450.
• Wellington started very quietly but took off in the second half of 2016, w/ an annual increase of $2000 for a typical property.
• Nationally, rents for all properties rose 7.1% from December 2015 to last month. However, rents in Christchurch fell 5%.
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