Aucklanders are experiencing a glimmer of hope in the relentless rental market, with the latest Trade Me Rental Price Index indicating a potential shift.

While the city remains the country’s most expensive for renters, with a median weekly rent of $690, there are signs of a cooling market.

Despite holding its position as the priciest region, Auckland has bucked the national trend of declining rents, showing stability in the past month.

This could signal a potential turning point for long-suffering tenants who have faced relentless upward pressure on rental costs.

Trade Me Property Sales Director Gavin Lloyd confirms the slight reprieve for Auckland renters. "Auckland was once again the most expensive region to rent - however the average asking price remained stable at $690," he said.

However, it’s important to note that while the month-on-month change is minimal, Auckland’s rental market remains highly competitive, with limited affordable options available.

Experts caution against reading too much into a single month’s data and advise renters to remain vigilant.

As the market continues to evolve, Aucklanders will be watching closely to see if this stability is a temporary reprieve or the start of a more sustained trend.