More breathing room for renters as affordability improves

Rising incomes and a flattening rental market are becoming a relief for tenant's wallets.  

Fresh data from Property Brokers has identified the share of income going towards rent has fallen from 44% to 40% in the year to June. 

It also found the national weekly rent has stagnated, moving from $636 last year to $635 now.  

Property Brokers General Manager of Property Management David Faulkner told Mike Hosking the last time rents plateaued was in the late 90s and early 2000s.  

He says we're three years into a similar period, where rents plateau for about six years. 

Faulkner also says rents in the regions have started to catch up – there's now very little difference between provincial New Zealand and the major centres.  

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