21 Rent As values have slowed, so too has the rate of rent increase, from around 7% annually six months ago to more like 3% now. As a result the gross rental yield has remained flat for several months now at just over 3%. Christchurch rent continues to drop, now down 6.4% over the past year. Dunedin on the other hand has seen the highest increase in rent over the past year at 9.2%, but the yield is still the highest of the main centres at 4.1%. Gross Rental Yield - National National Annual Change in Value and Rent Median Weekly Rent Annual Change in Rent Gross Yield Auckland $519 3.6% 2.2% Hamilton $352 4.5% 3.4% Tauranga $427 4.1% 3.3% Wellington $437 3.3% 3.1% Christchurch $338 -6.4% 3.6% Dunedin $297 9.2% 4.1% Source: CoreLogic NZ / MBIE