News | Business
14 Jul 2024 7:20
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Business

    Rental property demand's plummeting - in large part due to the cost of living

    Rental property demand's plummeting - in large part due to the cost of living


    Trade Me's May Rental Price Index reveals the median weekly rent's held steady at 650 dollars.

    Demand's dropped for a seventh consecutive month - down 30 percent on the year before.

    Property Sales Director Gavin Lloyd says demand usually tapers off in winter.

    But he says a factors including slowing migration and increasing affordability are also at play.

    He says the cost of living is impacting people - so many are choosing to stay put in their current rentals.

    © 2024 Newstalk ZB, NZCity

     Other Business News
     13 Jul: ew electric passenger trains have arrived in Auckland - with more due over the next few weeks
     13 Jul: An Australian RTD brand is still selling it's products here despite it's appeal to minors
     12 Jul: The retail sector may need to hang on just a little longer
     12 Jul: Dairy farmers are relieved Synlait milk will live to see another day, after winning shareholder approval to take out a 130-million dollar loan
     12 Jul: Belief South Island dairy processor Synlait has been handed a life line, but not a life saver
     12 Jul: Reassuring investors big and small will be the goal, as Synlait works to raise capital
     12 Jul: Anxiety as Morrison-era Cashless Debit Card is flagged as possibly returning amid cost-of-living crisis
     Top Stories

    RUGBY RUGBY
    Tennis ace Lulu Sun insists her run to the Wimbledon quarter-finals far exceeded her expectations More...


    BUSINESS BUSINESS
    ew electric passenger trains have arrived in Auckland - with more due over the next few weeks More...



     Today's News

    Motoring:
    Motorists are being warned of a four night road closure through the Kaimai Range starting tonight 7:17

    Rugby League:
    The Dragons are back in the NRL's top eight after a 30-26 win over the Broncos in Brisbane 7:07

    Entertainment:
    Jeff Bridges "didn't think he would be able" to return to work amid his cancer battle 7:04

    Entertainment:
    Jack Quaid has admitted he is "immensely privileged" as a nepo baby 6:34

    Health & Safety:
    The Health Research Council's dished out 12-million dollars, to fund a swathe of Otago studies 6:27

    Entertainment:
    Daisy Edgar-Jones says she has found a "lifetime" best friend in her 'Normal People' co-star Paul Mescal 6:04

    International:
    Joe Biden reassures supporters 'I'm OK' as Democrats remain split over US election prospects 4:37

    Rugby:
    Tennis ace Lulu Sun insists her run to the Wimbledon quarter-finals far exceeded her expectations 21:57

    Entertainment:
    Joey King says Sabrina Carpenter and Barry Keoghan are "too busy" to double date 21:34

    Living & Travel:
    Tonight's biggest Lotto winner takes home Division One's million dollar prize 21:17


     News Search






    Power Search


    © 2024 New Zealand City Ltd