Rental prices - and where to find them - have changed significantly over time, an old newspaper providing a nostalgic reminder of Wellington rental prices in the mid-1970s.
In July 1975, a one-bedroom flat in the coastal suburb of Island Bay could be rented for $26 per week. Now, over 46 years' later, it could cost $450, December Trade Me Rental Price Index data shows.
Rather than refer to the classifieds section of their community newspaper, people looking for a place to rent are now likely to jump online - or go through their local letting agent.
In a post shared to a Facebook group on Friday, a Wellington woman shared an image of the classifieds section of an old newspaper she'd found in the wall of her house.
Dated July 7, 1975, the 'LET, Houses, Flats etc.' section shows a selection of properties available to rent in Wellington.
The top listing on the page is for a one-bedroom, unfurnished flat in Island Bay.
'Suitable married couple; very tidy; $26 per week', the listing reads.
The newspaper also shows an ad for a two double bedroom, self-contained flat in Ellice Street, Mt Victoria.
'$45 weekly for professional married couple or 2 friends', the listing reads.
Unfurnished, with new drapes and carpet and a new automatic washing machine, the flat was situated in a new concrete block and included off-street parking.
CoreLogic chief property economist Kelvin Davidson, told Newshub based on the change in the Consumer Price Index, the one-bedroom rental in Island Bay for $26 would cost $279 in today's dollars.
Trade Me listings on Monday show the lowest-priced one-bedroom property in Island Bay, based in Tiber Street, is $440 per week.
The 2-bedroom rental in Mt Victoria, advertised for $45 in 1975, would equate to $483, Davidson said.
On Monday, the lowest-priced two-bedroom property in Mt Victoria is in Majoribanks Street, advertised for $560 per week.
Depending on a location's changing amenities and desirability, the comparisons show that 'affordability' can differ through time.
Back in 1975, an automatic washing machine was a drawcard. The wording in the advertisements indicates there was less of a need to cater for unmarried couples, including those in de-facto relationships.
Although 'couples' are mentioned widely on Trade Me rental listings, the Privacy Act 2020, prohibits discrimination based on characteristics such as gender and relationship or family status.
On a national basis, Tenancy Services data shows the median market rent was $540 in December.
That figure is based on bonds lodged for new tenancies starting up to October 2021. Tenancy Bond Services operations manager Ota Savaiinaea confirms the data shows a 10.2 percent increase nationally, year-on-year.
Historical StatsNZ wage figures indicate in April 1975, the average weekly wage per person (including overtime and bonus earnings), expressed as an 'aggregate payout' for full-time and part-time employees, was $94.39.
In the December 2021 quarter, total average weekly earnings (full-time employees, including overtime), were $1392.
