Young people flocking overseas aren’t just leaving bosses with job vacancies, Newsroom reports – they are leaving a glut of rooms, apartments and homes available for rent. This drop in demand is having a flow-on effect on rents. According to TradeMe’s rental price index for June 2022, the national median weekly rent dropped over the previous two months, while supply spiked. The Government expects 50,000 people to head overseas as the borders reopen.
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