As we transitioned from winter into spring, the rental market has become more balanced. There's been a noticeable increase in tenant activity — more enquiries, more applications and higher attendance at viewings.

Price sensitivity remains strong, with well-priced homes renting quickly. One modest 3-bedroom property in Wanaka, listed at $700 per week, received 17 applications and was rented within 15 days.

At the premium end of the market, interest is also growing. However, tenants seeking high-end homes tend to be more selective, with specific preferences guiding their decisions.