The media is a confusing beast.
Just over the last two days they have been reporting that inflation has risen to 2.5% over the rolling 12 months and attributed a major cause as being the large increase in the average rent across the country.
Very strange. Just the week before there had been article about rents and the fact they have remained virtually unchanged over the past 12 months.
In fact, on the table presented with this report, it shows:
| Period: | Auck | Wgtn: | Cant | NZ |
| January 24 | 650 | 635 | 550 | 608 |
| June 24 | 660 | 605 | 540 | 600 |
| December 24 | 650 | 630 | 570 | 600 |
| February 25 | 650 | 650 | 545 | 600 |
For Canterbury we have as previously advised seen a slight drop in rents within Rolleston. The cause – more new properties coming onto the market – supply currently greater than demand. For other parts of Christchurch, we have seen rent variations – mainly slightly upwards but occasionally slightly down.
It is a renter’s market at this point in time. They have options and they are not in a hurry. Should a tenant approach you (or us) for a rent drop it is worthy of consideration. The old adage is “it is cheaper to keep a good tenant than to find a new tenant”. Never been truer.
The situation currently in Christchurch is balanced. Common sense by both parties usually results in an acceptable outcome. Elsewhere in the country landlords are not only offering lower rent but also incentives such as a period of free rent or grocery vouchers. There are more positive ways to make your property “stand-out” such allowing pets.