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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3 Comments
Greg - the figures appear to be new tenancies?.
So could the increase reflect tenants quitting one lease to enter into a cheaper rental (or higher standard for the same rental)? This would be in contrast to more people choosing to rent, rather just higher churn in the existing tenancies.
Lotsa rentals have been built. More compition for tenants is not a bad thing. Suppresses the exploitative tendencys of speculording.
Yes a Speculandlorder near my place has just listed (thrown in the towel after less than 3 years) he will be losing around -200k for his specuvesting efforts.
Winning????
Intersting that bond data (for new rental agreemetns) show a 0.8% drop, year-on-year.
However, CPI data out this morning has "actual rentals increased by 1.9% in the 12 months to the December 2025 quarter." *
* https://www.stats.govt.nz/information-releases/consumers-price-index-de…)
Interesting the median rent from all bonds was a 0.8% drop, year-on-year.
CPI dat out this morning has "actual rentals for housing, up 1.9 percent (6.9 percent contribution to all groups)."
https://www.stats.govt.nz/information-releases/consumers-price-index-de…)
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