If you want to keep paying the same amount of rent as last year, then you'd better move to Murihiku/Southland, according to Trade Me.
It's just released April's rental price index, which compares current median rental prices (weekly) around the country to median prices over the past 12 months.
Trade Me's property sales director Gavin Lloyd says nationwide, median rents remain at $600 a week for the third month in a row.
It's the highest on record, but up just 3 percent from 12 months ago.
Lloyd said high rents are adding to cost-of-living woes, with every region seeing an increase since April last year - except for Murihiku/Southland.
"Southland is obviously the place to be. Its median weekly rent is the cheapest in Aotearoa at $430," he said.
There are several reasons why it's still relatively affordable, he suggested.
The region is "one of the most affordable markets to buy in - it's about $400,000 for a first home, meaning there aren't the same pressures on the rental market," he said.
The next cheapest region is Manawatū-Whanganui, now at $530 a week, after a sizeable increase of $50 a week.
It's a similar story in Waitaha/Canterbury, where renters now pay $45 more a week.
In Te Mātau a Māui/Hawke's Bay, the median price is now $590 a week, up $50 since last April.
The median price spiked there in March, reaching $625 a week following Cyclone Gabrielle's devastation.
However, it has since dropped back down after a small increase in supply (1 percent) and a drop in demand (2 percent).
Lloyd reckons some of that could be down to more long-term supply becoming available after the cyclone.
"Anecdotally we heard some people were shifting their short-term rentals to long-term to help ease the pressure in the community," Lloyd said.
Cyclone Gabrielle also hit Tairāwhiti-Gisborne hard too, and the region now has the smallest rental stock of all.
Supply fell 42 percent, but demand also fell 47 percent, indicating residents could be leaving the region en-masse.
REGIONS WITH A DROP IN SUPPLY
Across the country, the stock of rental properties was down 19 percent, while demand increased 36 percent.
Tāmaki Makaurau/Auckland now sits at $575 a week, compared to $525 last April, after supply dropped a whopping 36 percent.
That "adds pressure to a tight market," he said.
The super city experienced severe flooding in January and February, forcing thousands of residents to find alternative accommodation after their properties were no longer habitable.
Ōtautahi/Christchurch is now $495 a week, up 10 percent on last April.
In Waikato, supply dropped by 13 percent.
REGIONS WITH AN INCREASE IN SUPPLY
The regions with the biggest increases in rental stock include Manawatū-Whanganui (52 percent), Tai Tokerau/Northland (41 percent), and Taranaki (22 percent).
However, demand in Taranaki went up 45 percent, too.
"We're seeing strong interest in apartments, townhouses and units," said Lloyd - an 8 percent year-on-year increase.
IT COMES AFTER...
The latest CPI (Consumer Price Index) figures showed rental prices were a large driver behind our 6.7 percent annual inflation rate.
Trade Me's data also follows Statistics NZ revealing last week that Aotearoa had a net gain of 65,000 migrants in the year to March.
Trade Me's rental price index is a monthly report that covers price trends by type and size of property across Aotearoa, across an average of 18,000 rental properties.
