rental holiday


PHOTO: ROSS GIBLIN/STUFF – Wellington rentals are now as expensive as Auckland.

Capital rents have caught up with Auckland, with the median rent reaching $550 per week in both cities in January.

Trade Me figures suggested the parity was reached after rents hit record-breaking highs nationwide, with an average increase of 4.4 per cent increase to median rents, putting the average at $470 per week.

Adding to capital renters’ headaches was an 11 per cent fall in the number of rental listings – a drop that more than doubled the national decline of 5 per cent.