Rents in the Capital are at their lowest since 2022

Trade Me's Rental Price Index shows Wellingtonians were paying 50 dollars less a week in June than the year before, down eight percent.

Meanwhile, the national median weekly rent fell four percent.

Trade Me's Casey Wylde says a fall in waiting tenants is driving prices down in Wellington - as available properties increase, with people leaving the CBD.

She says the balance has changed between supply and demand.