While this story is another soft TradeMe plug, thanks to their deal with Stuff, it does provide a snapshot of NZ's rental market.
Apparently Otago has reached the unenviable position of having the highest rents in the country at $700pw average, compared with the national median of $625.
"New listings in the region are down close to 15% year on year, the biggest supply drop anywhere in the country, while demand is up 5%."
The Otago figure will always be skewed by the Queenstown rental market with its higher rents and greater numbers of top-end rentals. But $700pw for an average rental?
How can ordinary people afford this?
https://www.stuff.co.nz/home-property/361037594/countrys-priciest-rent-region-thats-overtaken-auckland-and-bop
#Otago #Rent #Dunedin #NZ
Apparently Otago has reached the unenviable position of having the highest rents in the country at $700pw average, compared with the national median of $625.
"New listings in the region are down close to 15% year on year, the biggest supply drop anywhere in the country, while demand is up 5%."
The Otago figure will always be skewed by the Queenstown rental market with its higher rents and greater numbers of top-end rentals. But $700pw for an average rental?
How can ordinary people afford this?
https://www.stuff.co.nz/home-property/361037594/countrys-priciest-rent-region-thats-overtaken-auckland-and-bop
#Otago #Rent #Dunedin #NZ