New Zealand is seeing improvements in rental affordability.
Renters in New Zealand are set to face easier times than those across the Tasman, a new rental report suggests.
The latest Regional Rental Affordability Index released by property firm Property Brokers and The Property Knowledge, led by Professor Graham Squires, showed affordability had improved for nearly every region of New Zealand in the past year as rents eased and incomes rose.
Average rents now consume 39 percent of monthly earnings per job on a national basis, down 5 percent in a year. Most households pay rent with more than one income.
In Auckland, the figure is 39 percent, in Wellington 35 percent, and in Canterbury 38 percent. The most affordable rent in the country is in the West Coast of the South Island, where rent of $433 a week would typically take up only 31 percent of an individual's income.
