Median weekly rents across the country reached a record high of $600 in February

It’s important to understand the factors driving this trend. The decrease in the supply of rental properties, coupled with the increase in demand, has contributed to the rise in rental costs.

Moreover, there has been a 9% drop in the number of rental listings nationwide compared to February last year.

The supply of new rentals is expected to continue falling, given the high interest rates and the introduction of anti-property investors legislation over the past five years.

However, property investors can take heart in the fact that the market will turn in their favor again in due time.

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John Kenel
Assured Property

See below full article in the link to Landlords.co.nz

Source: LANDLORDS