Key Facts:

  • Rental demand in New Zealand has surged in the last six months, with a 50% increase in the number of inquiries compared to the same period last year.
  • The main factors driving the increase in rental demand are economic uncertainty, reduced overseas travel, and more people returning to New Zealand due to the COVID-19 pandemic.
  • In major cities like Auckland, Wellington, and Christchurch, rental inquiries have increased by as much as 80%.
  • This surge in demand is putting pressure on the rental market, leading to increased competition and rising rental prices.
  • Some experts predict that rental prices could continue to rise in the coming months as demand outstrips supply.

Article Summary:

Rental demand in New Zealand has spiked over the last six months, with a 50% increase in inquiries compared to the same period last year. The main drivers behind this surge in demand are economic uncertainty, reduced overseas travel, and more people returning to New Zealand due to the COVID-19 pandemic. In major cities like Auckland, Wellington, and Christchurch, rental inquiries have increased by as much as 80%, leading to increased competition in the rental market. As a result, rental prices are also rising, and some experts predict that this trend may continue in the coming months.

To read the full article, go to: https://www.rnz.co.nz/news/national/497751/rapid-growth-in-number-of-people-looking-for-rentals-in-last-six-months