Median rent remained steady at $500 per week compared with the same time last year. The lower quartile rent increased by 7% year-on-year, while the upper quartile eased slightly to $600 per week.

216 bonds were lodged during the month, representing a 20% year-on-year increase. In contrast, 255 bonds were closed, a 2% decrease from October last year.

Rental supply also showed a slight increase, with an average of 507 properties listed on TradeMe during the month, showing a 3% increase in available listings year-on-year.