Northland rent price increase mirrors boom in real estate

Northland's rents have risen 10 per cent in the past year, according to Trade Me.

The median asking price for a Northland rental was $330 this November, up on $300 last November and $275 the previous one, according to Trade Me's latest rental figures.

Barfoot and Thompson Whangarei branch manager Martin Dear said rent prices depended on the quality of the rental property.

Good, tidy properties were sought after in good areas, while poor quality homes were a different story.

Mr Dear said all aspects of real estate had been busy lately, thanks to people moving to the area.

"It's getting very busy, a lot busier than what we've been in a long time."

He said the new arrivals included Aucklanders and ex-pats returning to the region from places such as Australia.

He expected rent prices to continue sneaking up as there was less rental stock available.

Head of Trade Me Property Nigel Jeffries said the cost of renting a typical home in Auckland had surpassed $500 a week for the first time.

Mr Jeffries said median asking rents in New Zealand's largest city were up 9 per cent over the past 12 months.

Over the past five years the median asking rent in Auckland had risen by $105 per week, up 26.6 per cent.

Median asking rents across the South Island regions of Canterbury, West Coast, and Nelson declined while Otago increased.