21 Rent As values have slowed, so too has the rate of rent increase, from almost 7% annually late last year to just over 4% now. As a result the gross rental yield has remained flat for the last year at just over 3%. Christchurch rent continues to drop, now down 5.4% over the past year. Dunedin on the other hand has seen the highest increase in rent over the past year at 10.3% and the gross yield reflects this. It is easily the highest of the main centres at 4.4%. Gross Rental Yield - National National Annual Change in Value and Rent Median Weekly Rent Annual Change in Rent Gross Yield Auckland $503 5.0% 2.1% Hamilton $348 7.1% 3.4% Tauranga $427 2.4% 3.2% Wellington $439 6.3% 3.1% Christchurch $334 -5.4% 3.5% Dunedin $320 10.3% 4.4% Source: CoreLogic NZ / MBIE