The number of residential rental properties newly tenanted in November last year rose strongly compared to a year earlier, while their median rent declined slightly.
The latest figures from Tenancy Services show it received 13,326 rental bonds from throughout the country in November, up 10.7% compared to November 2024.
The median rent from all bonds received was $595 a week, a $5 per week, or 0.8% drop, year-on-year.
The biggest increases in the number of properties tenanted were in Northland 33.3%, the Nelson region 25.8%, Marlborough 19.0% and Manawatu-Whanganui 16.8%.
However, three regions posted declines in the number of properties tenanted; Bay of Plenty -8.5%, West Coast -7.7% and Otago -2.2%. The number of properties tenanted was unchanged in Gisborne and Tasman.
Around New Zealand six regions showed declines in median rents year-on-year in November, while eight regions showed increases, and median rents in two regions, Auckland and Otago, were unchanged.
The biggest decreases in median rents was in the Wellington Region -$40 a week, Gisborne -$30 and Nelson Region -$23.
The biggest increases in median rent were in Southland $50, West Coast $40 and Canterbury $20.
While the overall movement in median rents is relatively small, the figures suggest there is a healthy supply of available rental properties in most parts of the country, giving prospective tenants plenty to choose from.
So landlords will need to make sure their properties are up to scratch when they become vacant and asking rents are competitive if they want to attract quality tenants.
The table below shows the full regional figures for both median rents and the number of bonds received in November 2025 compared to November 2024.
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