Investors eye opportunities as rental listings surge
Renters seeking a summer move are seeing the market tilt in their favour.
New data from realestate.co.nz shows rental listings jumped 18% in September compared to the same month last year, signalling rising supply and easing pressure on tenants.
Hawke’s Bay led the gains with listings up 87%, followed by Central North Island (71.9%), Marlborough (71.4%), and Nelson & Bays (70.3%).
Realestate.co.nz spokesperson Vanessa Williams (pictured) said renters now have the rare advantage of choice.
“There’s a lot of choice on the market at present, which makes it a great time for anyone looking to upgrade their rental home or explore a new neighbourhood they might be thinking about purchasing in down the track,” Williams said.
“What’s more, this market of choice comes with a drop in average rental prices, making it an opportune time for those wanting to take the first step to first home ownership to add to their deposit.”
National rents fall by the price of a Netflix subscription
The national average weekly rent fell 3.1% year-on-year to $624 in September, down from $644 a year earlier.
Williams said the easing in rental prices reflects sustained high stock levels.
“We’ve seen rental property owners and investors hold onto their properties and keep them in the rental pool for longer, driving stock levels up and bringing prices down,” she said.
“This has given tenants greater negotiating power and the opportunity to add to their savings or first home deposit with money that would previously have gone into rent. That $20 difference can be put aside or enjoyed, whether that is in the form of weekly coffees or a Netflix subscription.”
These shifts are also occurring alongside a modest lift in investor confidence. The latest Crockers Investor Insight survey with economist Tony Alexander shows 20% of landlords now plan to buy within the next 12 months – up from 14% in April – while selling intentions have eased.
Regional markets defy the trend
Not all regions are seeing prices drop.
The Central North Island recorded a 10.4% annual rent increase to $602 per week, up from $545 a year earlier. Nelson & Bays rose 5.3% to $590, while Waikato climbed from $556 to $575.
“What we’re seeing is a reminder that New Zealand’s rental market isn’t moving in one direction,” Williams said. “Factors like regional growth, employment opportunities, and lifestyle appeal are keeping rents buoyant in certain areas, even as they ease elsewhere.”
Rental stock soars, giving renters the upper hand
Across the country, rental stock surged 23.6% compared to September 2024 – up from 6,655 listings to 8,224 properties.
The sharpest increases were seen in West Coast (133.3%), Hawke’s Bay (108.9%), Wellington (105.9%), and Wairarapa (100%), each more than doubling their available stock.
Williams said the current supply surge is reshaping market dynamics and giving tenants new flexibility.
“This market of choice is great news for renters,” she said. “It means more options, better value, and the chance to find homes that truly fit their lifestyle.”
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