Trade Me reveals where rents increased the most in 2022

January 26, 2023
An overhead view of a suburban neighbourhood.

Trade Me data released today shows that every region except Wellington saw rents climb last year.

"The biggest increase was seen in Northland, where the median weekly rent skyrocketed by a whopping $60 in between January and December," Trade Me property sales director Gavin Lloyd said.

Rents in the Taranaki region saw the second biggest rise, $45, while Canterbury and Marlborough both saw $40 increases.

"Rents were comparatively stagnant in the main centres, with Wellington and Auckland both seeing prices cool off in 2022 following a period of relentless growth in the two years prior," Lloyd said.

And the national median weekly rent finished off 2022 at a joint-record high of $580, he added.

It matches the median weekly rent seen in October and November, and first seen in April last year.

But price growth slowed significantly from the pace set in 2021.

"The $20 price jump we saw in the national median weekly rent between December 2021 and December 2022 was only half the size of what we saw the year prior, when it jumped from $520 in December 2020, to $560 in December 2021."

Trade Me property sales director Gavin Lloyd.

It comes as the number of rental listings nationwide continues to rise, with a 2% year-on-year increase in December.

In contrast, nationwide demand fell by 2% year-on-year in December.

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