Ashley Church: Property Commentator on the average rent reaching an all-time high and the Bay of Plenty becoming the most expensive place to rent

New Zealand's average rent has gone through the roof and is sitting at an all-time high. Latest Trade Me figures show the national median rent is $625 a week, about 7.8% percent higher than this time last year. For the first time, the Bay of Plenty is the most expensive place to rent a home, at $670 a week. Property Commentator Ashley Church told Roman Travers that when the cost of owning a property is weighed against the rent taken, most property investors have been running at a loss for about a decade. He said that the market is rebalancing with the change in Government, and a dramatic rent reduction is expected over the next few years. LISTEN ABOVE See omnystudio.com/listener for privacy information.