By RNZ
Rents for Auckland apartments have softened, which is being attributed to a drop in demand due to international students being largely shut out of the country.
Rental prices for the old Auckland City area had fallen 1 per cent for the September quarter, compared to the same period a year ago.
Infometrics economist Brad Olsen said the whittling down of the international student population due to border closures to control Covid-19 were likely the cause.
"That doesn't sound like a lot, but when you have other parts of Auckland growing at 4 per cent per annum, and even the national figure is up over 3 per cent per annum, that decline is starting to get significant."