Rents are falling, with the national average hitting the lowest point since September of 2023. 

It’s sitting at $628, with Wellington being hit the hardest, with a drop of 11.8%, while Auckland fell 2.3%.  

New rental listings also surged 16% year on year, with 6,700 in August. 

Aspire Property Managing Director Mike Atkinson told Mike Hosking Wellington in particular is facing some specific economic challenges, as well as the ones faced by the rest of the country. 

He says that the culling of public service jobs, consultants, and contractors has reduced the numbers of people who need to live in the Wellington City area, impacting rents. 

LISTEN ABOVE 

Rents are falling, with the national average hitting the lowest point since September of 2023.&nbsp;
It’s sitting at $628, with Wellington being hit the hardest, with a drop of 11.8%, while Auckland fell 2.3%. &nbsp;
New rental listings also surged 16% year on year, with 6,700 in August.&nbsp;
Aspire Property Managing Director Mike Atkinson told Mike Hosking Wellington in particular is facing some specific economic challenges, as well as the ones faced by the rest of the country.&nbsp;
He says that the culling of public service jobs, consultants, and contractors has reduced the numbers of people who need to live in the Wellington City area, impacting rents.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Mike Atkinson: Aspire Property Management Managing Director on the national average rent falling

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e411c6ac-c810-436a-9227-b352015d21eb/transcript

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