Rents Ease Across New Zealand as Supply Lifts

New figures show rental prices across much of New Zealand are softening, with the national average weekly rent falling to $636 in June 2025 – a 2.7% drop year-on-year, according to data from realestate.co.nz.

Wellington led the decline, with average weekly rent down 10.9% to $625. Hawke’s Bay followed with a 6.6% decrease to $632, offering some welcome relief for tenants after years of sustained price pressure.

“The drop, even modest, is significant for households navigating rising living costs,” said Vanessa Williams, spokesperson for realestate.co.nz.

“Any reprieve on the rental front helps ease the pressure.”

While much of the North Island saw declines, some southern regions are heading in the opposite direction.

The West Coast posted a 9.1% increase, Otago climbed 8.0%, and Southland hit a record high of $489 per week – up 6.1% on the same time last year.

“Southland is certainly bucking the trend – not just in rentals, but across the broader property market,” Williams said.

“It’ll be interesting to watch how that plays out through spring.”

A 15.3% rise in new rental listings nationally has also helped expand tenant choice, potentially easing competition and tempering price growth.

“With more listings on the market, we’re seeing a natural correction in prices,” Williams added.

“Importantly, with the Healthy Homes deadline now passed, renters can also expect higher standards in the properties hitting the market.”