Kerre Woodham: What are the impacts of falling rents?

If you're a renter, it's jolly good news. At least a third of people taking out new tenancies this year are paying less rent than the tenants who lived there before them.

According to the Ministry of Housing and Urban Development, for new tenancies since January 1, 30% were paying weekly rent lower than the initial weekly rent for the previous tenancy at that address. The data used a 500-day limit between the start of the last tenancy and the start of the newest tenancy, which gave a sample of around 33,000 homes, so, you know, a fairly sizable sample.