22 Rent Nationwide annual rental growth rose slightly last month, to 4.0%, but sits below the rolling 2 year average of 4.8%. Nationwide gross rental yield saw a minor drop to 3.1% - the equal lowest (with September 2016) for at least 20 years. Christchurch rent continues to drop, now down 8.5% over the past year. Rental growth in Dunedin has now slowed after recently enjoying double digit growth. Meanwhile Wellington and Hamilton currently have the greatest annual increases of 7.6% and 7.0% respectively. Gross yield is still very low across the main centres with all but Dunedin (4.5%) below 3.5%. Gross Rental Yield - Nationwide Nationwide Annual Change in Value and Rent Median Weekly Rent Annual Change in Rent Gross Yield Auckland $482 0.6% 2.0% Hamilton $353 7.0% 3.4% Tauranga $418 2.5% 3.2% Wellington $426 7.6% 3.0% Christchurch $325 -8.5% 3.4% Dunedin $326 2.2% 4.5% Source: CoreLogic NZ / MBIE