Since 2013, rents have risen 25 per cent in Auckland, 33 per cent in Wellington and 32 per cent in Waikato. Head of Trade Me Property Nigel Jeffries said there had been a significant increase in demand in regional New Zealand. Unless the supply of rental accommodation increases we can expect rental prices to continue to charge on." Economist Gareth Kiernan said the strength in the housing market, New Zealand's economic growth and population growth had been major factors in the rent increases of the past five years. Mike Butler, of landlord representative group Stop the War on Tenancies, said rent increases would continue as long as demand for housing was strong.

Source: Stuff November 25, 2018 23:26 UTC