Christchurch rental market still growing
Christchurch's rental market has continued to grow, latest numbers from Trade Me Property show.
In the last quarter of 2013, the number of Christchurch rentals listed on Trade Me increased by 24 per cent from the same time the previous year.
Acting head of Trade Me Property Jimmy McGee said there were nearly 1000 more listings in Canterbury compared to the same time the previous year.
''The rebuild phenomenon continues to drive listings growth and rent increases in the city,'' McGee said.
According to Trade Me numbers, Canterbury's average rent remained the highest in the country at $535 a week, but this was driven up by expensive short-term rentals.
''A number of high-priced properties pushed Canterbury's average rent to the top of the list,'' McGee said.
The median Canterbury rental was $453, lower than Auckland's median rent of $480.
The biggest growth in the number of listed rentals in Christchurch was in the city centre, with 37 per cent more rentals listed than the end of 2012. St Albans and Merivale followed with 12 and 9 per cent increases respectively.
Christchurch also had the largest jump in rent, with an increase of 20 per cent compared to the end of the previous year, possibly also driven by costly short-term rentals.
Nationally, the increase in rent was six per cent.