Advertised rents in the North and South islands have largely been tracking in opposite directions.
The data for average advertised rental properties advertised on Realestate.co.nz in March shows rents in 10 of 12 North Island regions falling both year-on-year and over the two years to March. The outliers were the Waikato and Wairarapa.
In the South Island rents rose, apart from a drop over two years in Marlborough, and year-on-year in the Nelson region.
The combined figures, for all of New Zealand, show the average asking rent for rental properties advertised on Realestate.co.nz in March was $632 a week in March this year, down $13 from $645 in March 2025, and down $25 $657 in March 2024.
See the table below for the full list of regional figures.
The biggest declines over the 12 months to March this year were in Coromandel, which was down $68 a week, Hawke's Bay down $53, and Wellington Region down $42.
The biggest rental increases in the 12 months to March were in Queenstown-Lakes up $99 a week, Southland up $39 and Marlborough up $32.
The latest figures from Realestate.co.nz suggest rents are not following their usual seasonal pattern.
Usually, advertised rents decline slightly over the quieter winter months when there is less demand from tenants for rental properties, then pick up over summer as demand rises, before easing again over the following winter.
However, it appears the usual summer increase in asking rents did not arrive this year, with rents remaining relatively flat over summer at similar levels to winter last year.
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13 Comments
Looks like flee the bad weather areas especially if the rents overpriced.
Well blow me down, who could have seen this coming?
The ongoing drain continues of those in the north coming southwards. A fine choice indeed
TAs latest views? Mike Hoskings this am called 38% of ma and pa investors want out..... ?
They want out at the current prices
Will be interesting to see how many really want out at the "38% of the investors exiting" + "oh shit the Iran problem is a slow moving earthquake" prices
My take is that things will look even more stable for a while, like the diesel supply currently is, just because inertia and lack of appetite for transactions
What's beyond that, only time will tell
Net selling plans strengthen
Welcome to the latest monthly Investor Insight survey compiled by Crockers Property Management and Tony Alexander. Each month we survey a selection of the many thousands of residential property investors on our databases with a view to gauging how things are changing over time across a wide range of indicators.
For instance, we will track changes in pressures on rents, points of particular concern, and plans regarding property purchases and intentions to sell.
Key points of interest from this month’s survey, which received 230 responses include the following.
- A record net 26% of existing property investors say they plan selling their properties. This is up from 17% last month and 11% six months ago.
- A record low 44% plan never selling or holding for at least ten years compared with 48% last month and 53% six months back.
- Concerns remain elevated about insurance costs and council rates.
ARE YOU THINKING ABOUT BUYING ANOTHER PROPERTY WITHIN THE NEXT 12 MONTHS?
In our March survey a gross 12% of respondents have said that they are thinking about buying another property over the coming 12 months. As the graph here shows this is the lowest reading since our survey started in mid-2021 and a firm decline from 16% in last month’s survey.
So the record % looking to sell will probably not be selling to the record low % lookin to buy
Fun times shifting shit boxes
Quick survey - I imagine Welly will buy a few... who else on here will buy a few at these prices as the 22% list?
Yup that seems about right
Softer rents showing up in listings, but not really seeing much underneath it breaking or any forced selling yet
Could just be a lower turnover phase where landlords adjust expectations a bit and things drift sideways for a while
Interesting bit is if vacancies start rising alongside it, then thats prob when it turns into something more than just noise
Ocean swells are change moving in slow motion. They are hard to see until they hit something that exposes them. Property crashes are the similar. Stressed sellers would rather starve or eat dog food than make a capotal loss. A tax free loss at that. Patience, eventually banks have to act.
In the mean time, can openers away.
Yeh I get the slow swell idea, but when banks start forcing things it usually shows up pretty clearly in arrears and mortgagee listings
Aint really seeing any of that come through yet, which is why it still looks more like a low turnover patch than anything breaking
If that changes then fair enough, but still looks a bit early to jump to that call
I reckon this slump will outlast you welly , we have seen plenty of hopefuls come and go here...
riverhead man included, you do not need banks for the next stage of falls, just more sellers then buyers will do it.
plenty of weak hands entered late hence TA comments about increasing numbers looking to get out, I am sure experienced hands like you will offer 10% at least below their asking price
no one is going to let them get out at current price levels and they act as huge overhang
eventually prices will get to a level where professional investors will want to buy, its a long way off for most properties.
Yeh ok, but if it was really just “more sellers than buyers” driving it, would expect to see a lot more stock piling up and clearing at bigger discounts
So yeh there’s definitely more listings around and things are slower, but stuff is still turning over rather than getting flushed out
Same on rental side, bit softer and more supply, but not really seeing anything that suggests forced selling yet
If that starts showing up then sure, different story, but still seems more like a slow market than anything blowing up
I was used to TradeMe median rental reporting. Unsure what to do with realestate.co.nz averages - they seem a bit noisier
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