Three-bedroom homes set the benchmark in steady market
Auckland’s rental market remained largely flat in November, with the region’s average weekly rent just $1.28, or 0.2%, higher than a month ago, and $6.13, or 0.9%, higher than a year earlier.
The stabilisation comes as New Zealand’s wider rental market is flooded with record stock, tilting power towards tenants, while a net 43% of landlords report struggling to find suitable tenants even as national rents soften – underlining a growing mismatch between rising supply and tenant preferences.
However, three-bedroom homes moved ahead of the pack, with the average weekly rent rising $9.45, or 1.4% year-on-year, and surpassing $700 per week for the first time.
“Three-bedroom homes make up the bulk of the Auckland rental market, being nearly 40% of the 17,500-plus rental properties we manage across the region,” said Anil Anna (pictured), general manager of property management at Barfoot & Thompson. “They are very much a benchmark for the ‘typical’ Auckland rental home and can provide insight into wider market trends.”
Anna said that while there is a lot of variation in three-bedroom homes across the city, from standalone properties to units and apartments, demand remains firm.
“The appeal is very broad, offering enough space for many families, for groups renting together, or for singles and couples who want a bit more room for their work or hobbies," he said.
“Increasingly, three-bedroom homes are also being seen as a more budget-friendly option by households who may previously have stretched to a four- or five-bedroom property, but are now looking to manage housing costs down.”
Anna said property managers were reporting more renters choosing smaller homes to reduce future rent commitments, as well as renters seeking adjustments to existing tenancy agreements to allow more tenants to occupy bedrooms that may previously have been used as a work or extra living space.
Cheapest and priciest areas for three-bedroom homes
The most affordable area for a three-bedroom home was Franklin and Rural Manukau, averaging $599.29 per week, followed by West Auckland at $648.58. Three-bedroom properties also remained under the $700 threshold in South Auckland ($653.15), Rodney ($682.28) and Pakuranga/Howick ($691.98).
At the other end of the spectrum, Central Auckland was the region’s most expensive, averaging $983.29 per week, with Anna noting these properties included large and high-end apartments.
Larger homes see little change as activity cools slightly
While some property managers were also reporting increasing demand for four-bedroom properties, which saw an average rent rise of 1.2% year-on-year in November, five-bedroom and larger homes recorded the smallest change, with less than $1 difference between November 2024 and November 2025.
“These homes are already at the upper end of the price scale, and demand patterns tend to be more stable,” Anna said.
Key measures of rental market activity eased month-on-month but remained well ahead of last year’s more subdued pace. Enquiries totalled 23,644 in November, down 6.5% from October but nearly 20% higher than November 2024. More than 7,900 groups viewed rental properties during the month, up 10.4% year-on-year, and just under 3,000 tenancy applications were received, 6.5% more than a year ago.
There were also more homes for rent at the end of the month, 8.6% above the average of the previous three months, a lift that Anna says could be attributed to the usual seasonal pattern of tenants choosing to conclude their tenancies at the end of the calendar year.
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