National rents fall, but regions show mixed results
New Zealand’s average weekly rent has dropped to $628, the lowest since September 2023, according to realestate.co.nz.
All major centres have seen declining rents, with Wellington recording the largest year-on-year fall at 11.8%. However, Southland hit a record high average rent of $509 and the West Coast saw an 11.2% increase, bucking the national trend.
This national softening comes as landlords themselves are showing less appetite for rent hikes. According to the latest Crockers People & Property Investor Insights, compiled with independent economist Tony Alexander, a net 42% of landlords reported plans to raise rents in the next 12 months, down from 47% in July and the lowest result since the survey began.
Regional markets buck the national trend
Despite the overall decline, some regions are seeing the opposite effect. Southland’s average weekly rent reached an all-time high of $509 in August 2025, up 9.2% from $466 last year. The West Coast also stood out, with average rental prices rising 11.2% year-on-year, realestate.co.nz data showed.
“While the national trend suggests a softening in rental prices, Southland and the West Coast are clear reminders that the market doesn’t move in unison,” said Sarah Wood (pictured), CEO of realestate.co.nz. “Local supply and demand pressures are driving different outcomes across the regions.”
Major cities see declines in rent
All of New Zealand’s major cities experienced a drop in average rental prices compared to a year ago. Wellington saw the largest decline, down 11.8%, followed by Otago (down 3.9%), Auckland (down 2.3%), Canterbury (down 2.1%), and Waikato (down 0.6%).
“These drops may reflect increased rental supply in the cities or tenants negotiating more favourable lease terms, but it's also likely linked to affordability pressures amid broader economic challenges,” Wood said.
New rental listings surge across the country
Nationally, new rental listings jumped 16% year-on-year, reaching 6,700 in August compared to 5,775 a year earlier. Wellington led the way with a 105.8% increase, more than doubling its new listings from 274 in August 2024 to 564 in August 2025.
Other regions with notable increases include Wairarapa (97.1%), Gisborne (82.4%), and Hawke’s Bay (69.2%). Canterbury also saw a strong rise, with 917 properties listed in August 2025 – a 29% increase from last year.
“We may be seeing the impact of properties returning from short-term rentals, or landlords choosing to re-enter the long-term rental market as economic conditions evolve,” Wood said.
Local knowledge is key in a varied market
With such diverse trends across the country, understanding local market conditions is more important than ever for both renters and landlords.
“Whether you’re renewing a lease, looking for a new tenant, or trying to understand market value, these regional insights are more important than ever,” Wood said. “Generalised national trends don’t always reflect the reality on the ground.”
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