19 Nov 2021

Rent prices hit new record highs

From Midday Report, 12:17 pm on 19 November 2021

Rents are soaring again - hitting record highs in Auckland and Wellington, and nationally as well.

The country's median weekly rent was $560 in October, a staggering $620 in Wellington, and $650 in Porirua.

TradeMe's latest numbers coincide with a survey by Sharesies finding more than a quarter of New Zealanders saying they don't plan on ever owning a property.

Trade Me's Property Sales Director Gavin Lloyd talks to Max Towle.