The Dunedin rental market remained stable in April, with the median rent achieving $540 per week compared with the same time last year. Lower quartile rents increased by 7%, while upper quartile rents increased slightly to $630 per week.

Bond activity remained strong, with 234 new bonds lodged, up 7% year-on-year, although closed bonds fell 8% to 225. Available rental listings on TradeMe averaged 306 for the month, a 15% decrease on the previous year, continuing the trend of reduced rental supply.