Signs the rental market may be starting to cool off, after a red-hot summer

It comes after the Government's package of tax changes, designed to put the brakes on the housing market.

Trade Me's latest Rental Price Index reveals demand for rentals was down 17-percent nationwide, when compared to the month prior.

But the national median weekly rent remains unchanged, at 540-dollars.

It's a stark contrast to QV's Price Index released yesterday, which shows the average home value is now more than 913-thousand dollars.