Average asking rents increased slightly in June but remained significantly down from where they were in June last year.
The national asking rent for residential rental properties advertised on Realestate.co.nz was $636 a week in June, up from $633 in May but still $17 a week lower than in June last year.
The monthly increases between May and June were generally small and several regions went against the trend and posted declines for the month.
In Auckland, the country's largest rental market by far, the monthly asking rent increased by just $2 a week, from $696 in May to $698 in June, but was down by $20 a week compared to June last year.
The biggest monthly increase was in Coromandel where the average asking rent increased by $42 a week, from $571 in May to $613 in June.
The biggest monthly decrease was in Otago where it dropped by $83 a week, from $699 in May to $616 in June - see the chart below for the full regional figures.
The slight overall increase in rents in June was likely the result of a decrease in the number of rental properties becoming available in June.
Realestate.co.nz received 6120 new rental listings in June, down from 7187 in May (-14.8%), but up by 15.3% compared to June last year.
In spite of the slight decline in new listings between May and June, June's rental listings were the highest they have been for the month of June since 2017, suggesting renters looking for somewhere to live will still have plenty of homes to choose from.
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| Average Advertised Residential Rents on Realestate.co.nz | |||
| June 2025 | |||
| Region | Jun-25 | May-25 | Jun-24 |
| Northland | $592 | $593 | $601 |
| Auckland | $698 | $696 | $718 |
| Waikato | $574 | $568 | $572 |
| Coromandel | $613 | $571 | $584 |
| Bay of Plenty | $651 | $671 | $666 |
| Gisborne | $642 | $672 | $662 |
| Central North Island | $597 | $569 | $611 |
| Hawke's Bay | $632 | $617 | $677 |
| Wairarapa | $535 | $519 | $521 |
| Taranaki | $581 | $587 | $595 |
| Manawatu/Whanganui | $546 | $536 | $547 |
| Wellington | $625 | $624 | $701 |
| Nelson & Bays | $568 | $589 | $580 |
| Marlborough | $569 | $567 | $579 |
| Canterbury | $576 | $576 | $576 |
| West Coast | $433 | $444 | $396 |
| Central Otago/Lakes District | $827 | $815 | $865 |
| Otago | $616 | $699 | $571 |
| Southland | $489 | $475 | $461 |
| All of Aotearoa | $636 | $633 | $653 |
3 Comments
Lotsa vacant houses means...no cashflow for those speuclords. If I was a renter Id be targeting big savings, and be prepared to move.
There is no housing shortage in New Zealand.........
Happens every property cycle. In 2009-2012 people moved overseas or in with parents. As an investor you have to prepare for soft demand because it will come along. Folks with crappy damp properties will find them empty.
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