New Zealand rental growth has slowed
New Zealand’s rental market is showing signs of stabilising after several years of stronger growth.
According to the Ministry of Business, Innovation and Employment (MBIE), the estimated national geometric mean weekly rent was $565 for the year ended June 2026. This was 0.7% lower than the $569 recorded for the previous year.
The change follows a clear slowdown in rental growth. The national measure increased by 6.3% in the year ended June 2024. Growth then fell to 1.2% in 2025 before moving slightly lower in 2026.
Stats NZ rental price indicators show a similar pattern. In the 12 months to June 2026, the stock measure of rental property prices increased by 0.2%. The flow measure increased by 1.0%.
These measures use different methods, but they point in the same general direction. Rental prices remain high, while the pace of growth has become much slower.
Auckland remains above the national level
Auckland’s estimated mean weekly rent was $619 for the year ended June 2026. This was higher than the national figure of $565.
Monthly rental bond data also provides a useful snapshot of newly lodged tenancy agreements. For agreements lodged in June 2026, Auckland recorded a median weekly rent of $650. This was the highest regional median in that month’s data.
Selected regional rental snapshot
| Region | Median weekly rent |
|---|---|
| Auckland | $650 |
| Bay of Plenty | $630 |
| Otago | $595 |
| Hawke’s Bay | $590 |
| Northland | $580 |
| Waikato | $575 |
| Wellington | $575 |
| Canterbury | $550 |
| West Coast | $468 |
The figures show significant differences between regional rental markets. The gap between Auckland and the West Coast was $182 per week.
However, regional medians should not be treated as the expected rent for every property. They provide a broad market reference only.
What this means for Auckland landlords
Auckland remains a relatively high-value rental market, but slower national rental growth may limit the potential for large rent increases.
In this type of market, pricing a property accurately becomes especially important. Setting the rent above comparable properties may increase vacancy time. The income lost during a longer vacancy can outweigh the benefit of a higher weekly rent.
Setting the rent too low can also reduce the owner’s long-term return. A balanced approach should consider both achievable rent and current tenant demand.
Each property should be assessed individually. Important factors include:
- suburb and street location
- property type and condition
- number of bedrooms and bathrooms
- parking and public transport
- school zones and nearby services
- presentation and maintenance
- comparable rental properties in the same area
Rental conditions can vary across Auckland. A central-city apartment may face different demand from a family home on the North Shore, in West Auckland or in South Auckland. Regional figures should therefore be supported by local comparisons before a final rental price is set.
Regular rent reviews remain useful, but they do not always need to result in an increase. The current rent, local competition, the tenant’s payment record and the possible cost of vacancy should all be considered.
Stable occupancy may provide a stronger long-term result than pursuing the highest possible weekly rent.
Understanding the data
The figures in this article come from several official measures.
The annual geometric mean rent provides a broad view of rental levels over the year. The monthly median shows the middle rent among tenancy agreements included in that month’s bond data. Stats NZ rental price indexes measure changes in rental prices over time.
These figures are not directly interchangeable. For example, Auckland’s annual mean rent of $619 should not be directly compared with its June monthly median of $650 as though they measure the same group of properties.
Tenancy Services has also advised that recent rental bond data remains provisional while information is transferred to a new bond management system. Some figures may be incomplete or revised. Recent bond data should be treated as a market snapshot and used with care when making historical comparisons.
Sources and attribution
MBIE Regional Economic Activity Report – Mean Weekly Rent
Tenancy Services – Rental Bond Data
Stats NZ – Selected Price Indexes, June 2026
This analysis uses data sourced from the Ministry of Business, Innovation and Employment. MBIE rental bond data is licensed for reuse under the Creative Commons Attribution 3.0 New Zealand Licence.
Stats NZ material is licensed under the Creative Commons Attribution 4.0 International Licence unless otherwise stated.
The data has been selected, summarised and independently analysed by New Sunrises. Attribution does not imply that MBIE, Tenancy Services or Stats NZ endorses New Sunrises or this analysis.
Disclaimer
This article provides general market information only. It does not constitute legal, financial, tax or investment advice. Rental values vary between individual properties and locations. Property owners should obtain a property-specific rental assessment before making pricing or investment decisions.