New data indicates the financial pressures are easing on renters.

Rental prices have decreased for the first time since 2022, according to Trade Me’s Rental Price Index for June 2024.

CoreLogic chief property economist Kelvin Davidson says this is a sign the rental market has shifted in favour of tenants.

"There's a bit less demand out there and a bit more supply - so we have seen rents slow. They may not necessarily fall over the longer term, but I'd say they've flattened out."

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