Record high rents
The median rent in New Zealand has reached a record high of $500 a week, with the regions hit hard. According to TradeMe, the median weekly rent in the Bay of Plenty, Hawke's Bay, Manawatu/Whanganui, Southland, Taranaki and Waikato all hit new records. People who can't afford the rent in Auckland or Wellington or Christchurch have been moving to smaller centres, only to have the high rents follow them. Is it time for rent control in New Zealand?