A surge of new medium density homes contributed to a temporary rental oversupply. Table of Contents: Why Rents Are Falling in Auckland Oversupply from New Builds Short term rentals converting to long term Demographic shifts Unsold homes becoming rentals New builds hitting the market A Turning Point on the Horizon: Migration and Construction Trends Fewer New Builds Ahead Net Migration Remains Positive Rents (and Property Prices) Expected to Rise Again An Opportunity for Savvy