Most expensive location in New Zealand to rent a house revealed

Queenstown Lakes is the most expensive area to rent in the country according to Trade Me's latest Rental Price Index for May

Houses along Lake Wakatipu, Queenstown, New Zealand.
Houses in Queenstown (file picture). Source: istock.com

The median rent in the area is $790 per week - a 12.9 per cent jump since January.

"With the median weekly rent in Queenstown Lakes at $790, that's a whopping $240 more per week than the median rent in the Auckland region," Head of Trade Me Property Nigel Jeffries said.

The Price Index shows a significant increase in median weekly rent in Hawke's Bay, rising 12.5 per cent last year to a record $405 per week.

Rents in Auckland and Wellington stalled last month, sitting at $550 and $480 per week respectively.

However, the number of rentals in the Auckland region has picked up in May, climbing 11 per cent from the same time last year, and rentals in Auckland City surged up 28 per cent.

Apartments for rent in Auckland hit a record high this month at $500 a week, climbing 2 per cent from last year.

Units in the Super City also reached new heights at $445 per week after jumping 4.7 per cent.

Trade Me also saw a rise in townhouses into the double-digits, particularly in the capital.

"The median weekly rent for a townhouse in New Zealand is now just shy of the $500 mark," Mr Jeffries said.

The national median weekly rent has remained stable at $475 for the second month in a row.