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Bay Of Plenty Renters Still See Sky High Rental Prices

Trade Me's latest Rental Price Index shows, the Bay of Plenty's median weekly rent in August was $640, $20 more compared to the nationwide weekly rent.

High prices in Tauranga were a main contributor for the region, with the city reaching a median weekly rent of $680 last month.

It puts Tauranga in the sixth place of the top 10, of the most expensive districts to rent in New Zealand.

Trade Me's Property Sales Director Gavin Lloyd, says what they're seeing nationally is supply challenges across the country.

"Supply is down 17%, whereas the demand side of things is up by 14%."

"The Bay of Plenty is actually being a bit of a outlier compared to that national trend, and what we see through those cooler months of the year, is the supply side of things does drop off," Lloyd says.

Lloyd says heading into summer again, they usually see an increase of listings come onto site.


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