New Zealand's biggest rent increases have come in cyclone-affected Gisborne and Hawke's Bay

By Greg Ninness

Residential rents remained largely flat in April, with the national median rent barely moving since late last year.

According to the latest bond data from Tenancy Services, the national median rent was $600 a week in April and has been unchanged at that level since December last year, apart from January when it crept up to $608 a week before dropping back to $600 in February.

However, compared to April last year the national median rent was up by $25 a week (4.4%).

In Auckland, the country's largest rental market where more than 4000 tenancy agreements were signed in April, the median rent was unchanged at $660 a week from March to April but was up by $20 a week (3.2%) compared to April last year.

Around the country the change in median rent over the 12 months to April ranged from zero in Nelson to $90 a week (16.4%) in Gisborne, which now has the second highest median rent in the country after Auckland.

This is believed to be mainly due to a loss of homes caused by Cyclone Gabrielle, which has worsened a housing shortage in the region.

A similar trend is evident with rents in Hawke's Bay - refer to the table below for the full regional figures.

This story was originally published on Interest.co.nz and has been republished here with permission.