'Stuttering' economy drives rental price drop

'Stuttering' economy drives rental price drop

The first drop in New Zealand rental market prices since 2009 has been chalked up to ‘an economy that’s stuttering and struggling to even get out of first gear’. According to analysis of MBIE figures by Cotality (formerly Corelogic) in the three months ending May, the national median rent fell by 0.3% compared to the same period last year. This was led by a 2 percent decline in Auckland’s rental market (the country’s largest), and a 0.8 percent …