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26 Apr 2024 14:24
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      Home > News > National > Wellington

    Unwelcome news for Wellingtonians moving out of town to escape sky-high rents

    Unwelcome news for Wellingtonians moving out of town to escape sky-high rents


    Trade Me Property data shows median rents in the region rose an average of 60 dollars a week in the year to August - to 550 dollars.

    Trade Me's Aaron Clancy says it's been led by people moving to the likes of Hutt Valley and Porirua.

    He says Upper and Lower Hutt saw big spikes, with Upper Hutt recording a 30 percent-plus year-on-year increase.

    Wellington's average rent of 550 per week is now level with Auckland as its market cools slightly.

    © 2024 Newstalk ZB, NZCity

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