This could indicate future downward pressure on prices as more properties are available and renters have more choice, Gavin Lloyd, Trade Me property customer director says. The number of rental listings was up 13 per cent nationally compared with December, and 40 per cent year-on-year. The majority of new listings are concentrated in Auckland at 11,107, up 13 per cent month-on-month, Wellington at 4,030, up 22 per cent month-on-month), and Canterbury at 2,591, up 5 per cent month-on-month. “With so many rental options available, securing a long-term tenant is more challenging than in recent times,” Lloyd says. “Attractive, well-presented and maintained rental properties will always be popular, and landlords with properties that have been vacant for a while might need to consider making their property more competitive, either by adding improvements or reducing the price.” Taranaki had the largest month-on-month increase in price, with a 6 per cent rise to $620 per week. Wellington followed with a 3.8 per cent increase to $675 per week, now surpassing Auckland’s median weekly rent of $670. Canterbury showed a 2.7 per cent month-on-month increase reaching $580. The biggest drop in weekly median rent this month was in Otago.