National rents steady, still down on last year, Trade Me reports
New Zealand renters head into Christmas slightly better off than a year ago, despite a summer bounce in prices.
Trade Me Property’s latest Rental Price Index shows the national median weekly rent rose to $620 in November, up from $610 in October but down 1.6% year-on-year.
“After a dip in October, it appears the national median rent has steadied again, returning to the $620 mark, where it had previously sat since June,” said Trade Me Property spokesperson Casey Wylde (pictured).
The summer rent rebound comes amidst record tenant shortages, with a net 43% of landlords saying they are struggling to find good tenants.
Bay of Plenty now NZ’s priciest region
The Bay of Plenty has pushed Auckland aside to become the most expensive region, with a median weekly rent of $660 in November, up 1.5% month-on-month but still down 2.9% (or $20) year-on-year.
“As in previous years as the weather heats up, so too do the prices in those summer hot spots, particularly the Bay of Plenty region which starts to attract both an influx of seasonal workers, and holiday makers,” Wylde said.
Auckland, which topped Trade Me's $250m mega-sale leaderboard, remained at $650 for the month, while Wellington’s median rent held at $600 in November, a significant 7.0% drop year-on-year that extends the capital’s cooling trend.
Localised moves: Gisborne drops as tenants gain choice
Gisborne recorded the largest monthly fall, with median rent down to $600 in November from $640 in October.
“Gisborne is a good example of how localised the market is outside the main centres," Wylde said. "It's a smaller, lifestyle-driven region, and that can lead to volatility. We've seen significant drops in the median rent, even while search activity is up 20 per cent on last year.”
These local swings sit alongside a broader national backdrop of easing rent growth and more stock, giving tenants greater leverage on price and terms in many areas.
Christchurch urban market outperforms main centres
When looking at urban property types (apartments, townhouses, and units), Christchurch stands out as a strong market. The median rent for all urban property in Ĺtautahi rose 2.9% year-on-year in November to $530.
In contrast, Wellington’s urban median rent fell 4.3% year-on-year to $550, and Auckland’s urban median dropped 1.7% to $590, underlining continued softness in the main centres outside Christchurch heading into 2026, Trade Me reported.
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