Rent prices are up in Auckland and Wellington but dropped in Christchurch according to figures from Trade Me Property.
Excluding Auckland, the typical median asking rent was $370 a week, 5.7 percent higher than a year ago.
Trade Me Property spokesperson Nigel Jeffries says rents aren't going up as fast as house prices.
"Landlords have actually benefited from some of the lowest mortgage rates we've seen in a long time so their monthly bill from the bank isn't anything like it could be."
Rents in Auckland were up by 7.6 percent compared to December 2014.
The median weekly rent in Auckland was $480 at the start of 2015, and ended the year at $495.
Trade Me says there is likely to be a "rent correction" in January or February and will probably be around the 5 percent as seen at the start of last year.
Such an increase could push rents to $500 and will likely stay there.
Bay of Plenty saw an 8.8 percent median increase in weekly rent over the past 12 months, adding another $1500 to the typical yearly rent in the region.
The largest rent rise was in Manawatu/Wanganui which increased 21.7 percent year-on-year in median asking rent to a record price of $280 per week.
Rents had stayed around $250 a week for the past five years.
3 News / RadioLIVE
