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Rents have been going mental recently. They’re up 4.6% over the last year across the country, according to TradeMe (June 2022).
That’s why I was surprised to see this recent headline: Wake up landlords, the rental market has changed, property managers say.
This Stuff article stated, “… landlords need to recognise it is now a “tenant’s market”, property managers are warning.”
These can be pretty scary words to an investor. But are we actually seeing the rental market slow down?
Or does the data tell a different story? Let’s take a look.
#1 Trademe rental index
The data shows that up until April, rents increased a lot.
However, one month later (May), there was a slight decrease. And in June, another small drop.
By small, I mean tiny. Rents across NZ (as a whole) are down $10 a week (1.7%).
However, that masks the differences across the regions. Take a look –