Rising supply and falling demand is pushing down rents. 

New Cotality analysis of MBIE data shows the national median rent dropped 0.3% in the year to May. 

That's the first time the rent has dropped in more than 15 years. 

Aspire Property Management's Managing Director Mike Atkinson told Mike Hosking housing supply is increasing at the same time incomes are falling in real terms. 

He says there's also been a huge drop-off in net migration, with fewer people coming into the country. 

However, there could be some good news on the way for landlords. 

Atkinson says things should pick up over summer, when migration typically increases. 

LISTEN ABOVE 

Rising supply and falling demand is pushing down rents.&nbsp;
New Cotality analysis of MBIE data shows the national median rent dropped 0.3% in the year to May.&nbsp;
That's the first time the rent has dropped in more than 15 years.&nbsp;
Aspire Property Management's Managing Director Mike Atkinson told Mike Hosking housing supply is increasing at the same time incomes are falling in real terms.&nbsp;
He says there's also been a huge drop-off in net migration, with fewer people coming into the country.&nbsp;
However, there could be some good news on the way for landlords.&nbsp;
Atkinson says things should pick up over summer, when migration typically increases.&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's Managing Director on median rents dropping nationally

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2edb3b6f-b212-4946-b87f-b323015094d3/transcript

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