Rental Yield Indicator
 Indicative gross rental yields for three bedroom houses in 56 selected areas with high rental activity during the previous six months. Based on REINZ lower quartile selling prices and median rents recorded by Tenancy Services' Bonds Centre in each area over the previous six months. |
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| Indicative gross residential rental yields for the six months ending: | |||||||||||||||||||||||||
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Town/region
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Yield % Sept 2020 | Yield % June 2020 | Yield % March 2020 | Yield % Dec 2019 | Yield % Sept 2019 | Yield % June 2019 | Yield % March 2019 | Yield % Dec 2018 | Yield % Sept 2018 | Yield % June 2018 | Yield % March 2018 | Yield % Dec 2017 | Yield % Sept 2017 | Yield % June 2017 |
Yield % March 2017 | Yield % Dec 2016 | Yield % Sept 2016 | Yield % June 2016 | Yield % March 2016 | Yield % Dec 2015 |
Yield %
Sept 2015
|
Yield %
June 2015 |
Yield %
March 2015
|
Yield %
Dec 2014
|
Sept 2014
|
| Whangarei: | |||||||||||||||||||||||||
| Kamo/Tikipunga/Kensington | 5.4 | 5.2 | 5.3 | 5.4 | 5.5 | 5.3 | 5.3 | 5.5 | 5.5 | 5.5 | 5.4 | 5.5 | 5.3 | 5.5 | 5.4 | 5.4 | 5.9 | 6.1 | 6.0 | 5.6 | 7.1 | 6.5 | 6.9 | 7.6 |
6.4
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| Rodney - Orewa/Whangaparaoa | 4.1 | 4.1 | 4.0 | 4.1 | 4.2 | 4.2 | 4.2 | 4.1 | 3.9 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 | 3.8 | 3.9 | 4.1 | 4.1 | 4.1 | 4.3 | 4.5 | 4.5 | 4.6 |
4.8
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| North Shore: |
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| Beach Haven/Birkdale | 3.8 | 3.8 | 3.9 | 4.1 | 4.2 | 4.1 | 3.8 | 3.8 | 3.9 | 3.9 | 3.8 | 3.8 | 4.0 | 3.8 | 3.7 | 3.7 | 3.7 | 3.7 | 3.9 | 3.8 | 3.9 | 4.0 | 4.3 | 4.3 |
4.6
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| Torbay | 3.7 | 3.8 | 3.9 | 3.9 | 4.0 | 4.0 | 3.8 | 3.9 | 3.9 | 3.7 | 3.7 | 3.6 | 3.6 | 3.6 | 3.7 | 3.6 | 3.4 | 3.6 | 3.8 | 3.6 | 3.8 | 4.0 | 4.5 | 4.6 |
4.5
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| Waitakere: |
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| Glen Eden | 4.1 | 4.1 | 4.0 | 4.2 | 4.3 | 4.3 | 4.0 | 4.1 | 4.1 | 3.9 | 3.8 | 3.9 | 3.9 | 3.9 | 4.0 | 3.8 | 3.7 | 3.9 | 4.0 | 4.0 | 4.1 | 4.3 | 4.6 | 4.9 |
5.1
|
| Massey/Royal Heights | 4.1 | 4.1 | 4.2 | 4.3 | 4.3 | 4.3 | 4.0 | 4.0 | 4.0 | 4.2 | 4.2 | 3.9 | 3.9 | 3.8 | 4.0 | 3.9 | 3.8 | 4.1 | 4.1 | 4.0 | 4.1 | 4.4 | 4.6 | 4.9 |
5.1
|
| Henderson | 3.9 | 4.0 | 4.3 | 4.4 | 4.6 | 4.4 | 4.1 | 4.2 | 4.1 | 4.1 | 4.2 | 4.1 | 4.1 | 4.0 | 3.9 | 3.8 | 3.8 | 3.8 | 4.1 | 4.1 | 4.1 | 4.4 | 4.7 | 4.9 |
5.0
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| Central Auckland: |
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| Avondale | 3.8 | 3.5 | 3.7 | 4.2 | 4.3 | 4.2 | 3.9 | 3.9 | 4.1 | 4.0 | 3.7 | 3.6 | 3.6 | 3.5 | 3.6 | 3.6 | 3.7 | 3.6 | 3.7 | 3.7 | 3.9 | 4.1 | 4.2 | 4.4 |
4.5
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| Manukau: |
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| Highland Park | 3.6 | 3.6 | 3.4 | 3.4 | 3.5 | 3.8 | 3.4 | 3.3 | 3.3 | 3.6 | 3.7 | 3.6 | 3.8 | 3.6 | 3.5 | 3.5 | 3.4 | 3.3 | 3.3 | 3.6 | 3.6 | 3.8 | 3.8 | 4.1 |
4.3
|
| Papakura/Drury/Karaka | 4.5 | 4.6 | 4.6 | 4.7 | 4.7 | 4.8 | 5.1 | 5.0 | 4.9 | 4.7 | 4.6 | 4.7 | 4.7 | 4.3 | 4.3 | 4.4 | 4.4 | 4.7 | 4.8 | 4.8 | 4.9 | 5.5 | 5.6 | 5.9 |
6.0
|
| Franklin - Pukekohe/Tuakau | 4.6 | 4.6 | 4.5 | 4.4 | 4.5 | 4.6 | 4.7 | 4.6 | 4.5 | 4.6 | 4.7 | 4.7 | 4.8 | 4.8 | 4.6 | 4.4 | 4.3 | 4.5 | 4.9 | 5.0 | 5.0 | 5.3 | 5.5 | 5.6 |
5.6
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| Hamilton: |
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| Deanwell/Melville/Fitzroy | 4.9 | 4.6 | 4.7 | 4.9 | 5.0 | 5.0 | 4.9 | 4.9 | 5.1 | 5.1 | 5.1 | 4.9 | 4.8 | 4.8 | 4.8 | 5.0 | 5.1 | 5.4 | 5.3 | 5.5 | 6.2 | 6.8 | 6.9 | 6.9 |
6.9
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| Fairfield/Fairview Downs | 4.9 | 4.9 | 4.9 | 4.8 | 4.9 | 4.7 | 4.4 | 4.4 | 4.8 | 4.7 | 4.6 | 4.6 | 4.5 | 4.5 | 4.9 | 4.8 | 4.8 | 5.1 | 5.4 | 5.7 | 6.0 | 6.8 | 6.7 | 6.2 |
7.0
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| Te Kowhai/St Andrews/ Queenswood | 4.2 | 4.3 | 4.2 | 4.3 | 4.6 | 4.5 | 4.6 | 4.7 | 4.7 | 4.7 | 4.7 | 4.6 | 4.6 | 4.5 | 4.4 | 4.3 | 4.6 | 4.7 | 4.7 | 4.9 | 5.3 | 5.4 | 5.4 | 5.6 |
5.8
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| Cambridge/Leamington | 4.4 | 4.3 | 4.4 | 4.3 | 4.5 | 4.4 | 4.4 | 4.5 | 4.6 | 4.6 | 4.3 | 4.2 | 4.4 | 4.4 | 4.6 | 4.6 | 4.7 | 4.8 | 5.2 | 5.3 | 5.2 | 5.5 | 5.5 | 5.6 |
5.9
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| Te Awamutu | 4.7 | 4.3 | 4.9 | 5.1 | 5.0 | 4.9 | 4.9 | 4.9 | 5.1 | 5.0 | 4.9 | 5.1 | 5.0 | 5.1 | 5.0 | 5.1 | 5.2 | 5.2 | 5.7 | 6.2 | 6.3 | 6.5 | 6.2 | 6.3 |
6.4
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| Tauranga: |
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| Tauranga Central/Greerton | 4.4 | 4.7 | 4.6 | 4.6 | 4.5 | 4.8 | 5.5 | 5.1 | 4.9 | 4.8 | 4.7 | 4.8 | 5.1 | 4.7 | 4.6 | 4.4 | 4.3 | 3.7 | 5.2 | 5.2 | 5.6 | 6.0 | 6.1 | 5.9 |
5.9
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| Bethlehem/Otumoetai | 4.1 | 4.4 | 4.2 | 4.1 | 4.3 | 4.2 | 3.7 | 4.0 | 4.2 | 4.2 | 4.3 | 4.3 | 4.1 | 4.0 | 4.1 | 3.7 | 4.2 | 4.2 | 4.6 | 4.8 | 4.8 | 4.5 | 4.8 | 5.3 |
5.4
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| Mt Maunganui | 4.1 | 4.3 | 4.3 | 4.1 | 4.2 | 4.4 | 4.6 | 4.5 | 4.6 | 4.6 | 4.4 | 4.2 | 4.3 | 4.4 | 4.4 | 4.2 | 4.2 | 4.4 | 4.8 | 4.6 | 4.7 | 5.4 | 5.7 | 5.6 |
5.2
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| Pyes Pa/Welcome Bay | 4.6 | 4.5 | 4.5 | 4.7 | 4.5 | 4.7 | 4.8 | 4.7 | 4.5 | 4.6 | 4.4 | 4.6 | 4.7 | 4.3 | 4.8 | 4.8 | 4.9 | 4.8 | 5.4 | 5.5 | 5.3 | 5.9 | 5.7 | 5.7 |
5.8
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| Kaimai/Te Puke | 4.6 | 4.8 | 5.1 | 5.3 | 5.2 | 5.3 | 5.0 | 5.1 | 5.1 | 4.8 | 4.9 | 5.5 | 5.0 | 4.9 | 5.3 | 5.4 | 5.5 | 5.6 | 5.8 | 5.9 | 6.2 | 6.4 | 6.2 | 6.2 |
5.7
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| Whakatane | 5.2 | 5.3 | 5.2 | 5.5 | 5.7 | 5.4 | 5.7 | 5.9 | 5.8 | 6.1 | 6.3 | 6.0 | 6.1 | 6.0 | 6.1 | 5.8 | 6.5 | 6.6 | 6.4 | 7.1 | 7.3 | 6.7 | 6.3 | 6.7 |
6.9
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| Rotorua: | |||||||||||||||||||||||||
| Holdens Bay/Owhata/Ngapuna | 6.7 | 6.7 | 6.8 | 6.3 | 6.1 | 6.5 | 6.1 | 6.3 | 7.0 | 7.8 | 7.8 | 7.4 | 9.3 | 10.5 | 8.0 | 9.7 | 10.7 | 9.4 | 8.7 | 8.3 | 8.7 | n.a. | n.a. | n.a. | n.a. |
| Kuirau/Hillcrest/Glenholm | 5.1 | 5.8 | 4.9 | 4.9 | 5.4 | 6.0 | 4.9 | 4.9 | 5.5 | 5.4 | 5.8 | 4.9 | 5.6 | 5.5 | 4.9 | 7.3 | 7.5 | 6.4 | 5.9 | 6.3 | 6.6 | n.a. | n.a. | n.a. | n.a. |
| Ngongotaha/Pleasant Heights/Koutu | 6.6 | 6.2 | 6.0 | 5.9 | 5.5 | 6.0 | 6.1 | 6.5 | 6.7 | 6.0 | 6.7 | 7.6 | 8.5 | 6.2 | 8.6 | 8.2 | 7.2 | 7.9 | 7.7 | 8.0 | 8.2 | n.a. | n.a. | n.a. | n.a. |
| Hastings - Flaxmere | 6.0 | 5.9 | 6.1 | 6.3 | 7.0 | 7.9 | 8.2 | 8.3 | 8.4 | 9.2 | 9.6 | 9.8 | 9.9 | 9.3 | 8.9 | 8.6 | 9.4 | 9.3 | 10.9 | 11.5 | 11.0 | 12.1 | 12.2 | 11.7 |
11.8
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| Napier - Taradale | 4.5 | 4.3 | 4.3 | 4.7 | 4.5 | 4.6 | 5.0 | 5.1 | 4.9 | 4.7 | 4.6 | 4.4 | 4.4 | 4.9 | 5.0 | 4.9 | 5.1 | 5.5 | 5.4 | 5.6 | 5.5 | 5.3 | 6.2 | 6.3 |
6.1
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| Taranaki: | |||||||||||||||||||||||||
| New Plymouth Central/Moturoa | 4.6 | 5.0 | 4.6 | 5.4 | 5.5 | 4.7 | 5.3 | 5.1 | 4.6 | 4.8 | 4.6 | 4.7 | 5.4 | 4.9 | 4.7 | 5.3 | 5.1 | 5.4 | 5.8 | 5.4 | 5.5 | n.a. | n.a. | n.a. | n.a. |
| Waitara/Inglewood | 6.0 | 7.0 | 6.3 | 6.3 | 7.7 | 6.7 | 7.6 | 7.4 | 6.6 | 6.5 | 6.4 | 6.1 | 6.0 | 7.2 | 8.1 | 7.0 | 7.7 | 7.7 | 8.8 | 8.9 | 8.0 | n.a. | n.a. | n.a. | n.a. |
| Whanganui | 6.2 | 6.8 | 7.0 | 7.4 | 7.6 | 7.8 | 8.1 | 8.2 | 8.5 | 9.0 | 9.0 | 8.9 | 8.7 | 8.6 | 9.1 | 9.7 | 9.7 | 10.3 | 9.6 | 10.0 | 14.9 | n.a. | n.a. | n.a. | n.a. |
| Palmerston North: | |||||||||||||||||||||||||
| Kelvin Grove/Roslyn | 5.3 | 5.3 | 5.4 | 5.2 | 5.3 | 5.7 | 5.6 | 5.7 | 5.9 | 6.2 | 6.3 | 6.5 | 6.3 | 6.5 | 6.6 | 6.6 | 7.0 | 7.3 | 7.4 | 7.2 | 7.2 | n.a. | n.a. | n.a. | n.a. |
| Palmerston North Central | 4.7 | 4.4 | 4.9 | 4.7 | 4.8 | 5.3 | 5.3 | 5.2 | 5.1 | 5.1 | 5.0 | 4.9 | 5.5 | 6.0 | 5.9 | 5.6 | 6.5 | 6.3 | 5.6 | 5.5 | 6.2 | n.a. | n.a. | n.a. | n.a. |
| Takaro/Cloverlea/Milson | 5.1 | 5.1 | 5.1 | 5.2 | 5.5 | 5.6 | 5.6 | 5.7 | 5.8 | 6.1 | 6.0 | 5.9 | 6.2 | 6.2 | 6.1 | 6.3 | 6.7 | 6.8 | 7.2 | 7.1 | 7.3 | n.a. | n.a. | n.a. | n.a. |
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| Kapiti Coast: |
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| Paraparaumu/Raumati | 4.3 | 4.6 | 4.5 | 4.5 | 4.7 | 4.8 | 4.5 | 4.8 | 5.2 | 5.0 | 4.9 | 5.0 | 5.0 | 4.9 | 4.8 | 5.3 | 5.6 | 5.7 | 5.9 | 6.0 | 6.1 | 6.2 | 6.1 | 6.1 |
5.9
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| Waikanae/Otaki | 4.3 | 4.2 | 4.3 | 4.5 | 4.4 | 4.7 | 4.5 | 4.4 | 4.5 | 4.5 | 5.4 | 5.2 | 4.7 | 4.7 | 5.2 | 5.5 | 5.8 | 5.8 | 5.9 | 6.5 | 6.8 | 6.6 | 6.7 | 5.5 |
5.4
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| Upper Hutt: | |||||||||||||||||||||||||
| Heretaunga/Silverstream | 4.3 | 4,7 | 4.7 | 5.2 | 5.1 | 5.1 | 4.9 | 5.0 | 4.9 | 4.9 | 4.8 | 5.0 | 5.4 | 4.7 | 4.7 | 4.6 | 5.3 | 5.6 | 5.8 | 5.8 | 6.1 | n.a. | n.a. | n.a. | n.a. |
| Totara Park/Maoribank/Te Marua | 4.6 | 5.0 | 5.3 | 5.0 | 5.2 | 5.3 | 5.2 | 5.3 | 5.6 | 5.6 | 5.6 | 5.6 | 5.7 | 5.8 | 5.8 | 5.2 | 5.7 | 6.2 | 6.3 | 6.2 | 6.8 | n.a. | n.a. | n.a. | n.a. |
| Lower Hutt: | |||||||||||||||||||||||||
| Epuni/Avalon | 4.6 | 4.7 | 4.4 | 4.7 | 4.9 | 4.8 | 5.2 | 5.1 | 4.5 | 4.7 | 5.0 | 4.5 | 4.8 | 4.9 | 5.1 | 5.6 | 5.1 | 5.5 | 5.8 | 5.2 | 5.1 | n.a. | n.a. | n.a. | n.a. |
| Taita/Naenae | 4.9 | 4.9 | 4.9 | 5.3 | 5.3 | 5.0 | 5.4 | 5.5 | 5.4 | 5.5 | 5.7 | 5.9 | 5.5 | 5.6 | 5.8 | 6.1 | 6.2 | 6.5 | 6.8 | 6.9 | 7.1 | n.a. | n.a. | n.a. | n.a. |
| Wainuiomata | 5.0 | 5.0 | 5.0 | 5.1 | 5.3 | 5.3 | 5.5 | 5.5 | 5.3 | 5.6 | 5.6 | 5.6 | 5.7 | 5.9 | 5.9 | 6.3 | 7.0 | 7.2 | 7.7 | 7.7 | 7.7 | n.a. | n.a. | n.a. | n.a. |
| Wellington: |
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| Johnsonville/Newlands | 4.4 | 4.7 | 5.0 | 4.7 | 4.7 | 4.7 | 4.9 | 5.1 | 5.0 | 4.9 | 4.9 | 4.6 | 5.0 | 5.0 | 4.9 | 4.8 | 4.8 | 5.2 | 5.5 | 5.4 | 5.6 | 5.8 | 5.6 | 5.5 |
6.2
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| Vogeltown/Berhampore/Newtown | 5.3 | 4.4 | 4.3 | 5.0 | 5.0 | 5.0 | 4.6 | 4.4 | 4.3 | 5.0 | 4.9 | 4.3 | 4.5 | 4.5 | 4.2 | 4.1 | 4.6 | 4.9 | 5.4 | 5.2 | 5.5 | 5.1 | 5.5 | 5.2 |
5.6
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| Tasman: |
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| Motueka | 4.0 | 3.9 | 4.3 | 4.0 | 4.0 | 4.2 | 4.3 | 4.4 | 4.3 | 4.2 | 4.2 | 4.5 | 5.0 | 4.4 | 4.0 | 4.0 | 4.7 | 5.3 | 5.2 | 5.4 | 5.3 | 5.3 | 5.5 | 5.6 |
5.5
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| Richmond/Wakefield/Brightwater | 4.2 | 4.3 | 4.3 | 4.3 | 4.3 | 4.5 | 4.4 | 4.3 | 4.3 | 4.5 | 4.5 | 4.6 | 4.8 | 4.6 | 4.7 | 4.6 | 4.8 | 5.3 | 5.3 | 5.3 | 5.5 | 5.6 | 5.6 | 5.8 |
5.9
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| Nelson - Stoke/Nayland/Tahunanui | 4.5 | 4,6 | 4.5 | 4.7 | 4.7 | 4.7 | 4.6 | 4.5 | 4.7 | 4.8 | 4.9 | 4.9 | 4.8 | 5.0 | 5.1 | 5.1 | 5.2 | 5.3 | 5.5 | 5.7 | 5.8 | 5.9 | 5.7 | 5.7 |
6.0
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| Blenheim | 5.5 | 5.2 | 5.1 | 5.6 | 5.5 | 5.3 | 5.3 | 5.3 | 5.4 | 5.7 | 5.6 | 5.5 | 5.7 | 5.6 | 5.8 | 6.3 | 6.5 | 6.5 | 7.0 | 7.0 | 6.4 | 6.5 | 6.5 | 6.6 |
6.5
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| Christchurch: |
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| Hornby/Islington/Hei Hei | 5.7 | 5.8 | 5.9 | 5.8 | 5.8 | 5.8 | 5.9 | 5.8 | 6.0 | 5.9 | 5.7 | 5.8 | 5.6 | 5.6 | 5.6 | 5.7 | 6.1 | 6.1 | 6.0 | 6.0 | 6.2 | 6.2 | 6.3 | 6.5 |
6.3
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| Riccarton | 4.9 | 5.2 | 4.4 | 4.3 | 4.4 | 5.9 | 5.2 | 5.1 | 5.6 | 5.6 | 5.2 | 5.7 | 5.1 | 4.7 | 5.0 | 5.2 | 5.5 | 5.0 | 5.7 | 5.0 | 4.9 | 5.9 | 5.2 | 4.9 |
5.1
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| Woolston/Opawa | 5.8 | 6.1 | 6.3 | 6.6 | 6.4 | 6.4 | 6.5 | 7.1 | 7.2 | 7.4 | 7.8 | 6.7 | 6.2 | 6.0 | 6.2 | 6.5 | 6.6 | 7.4 | 6.3 | 6.4 | 6.6 | 6.8 | 7.3 | 7.2 |
8.0
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| Ashburton | 5.8 | 5.5 | 7.3 | 7.5 | 6.3 | 5.7 | 5.8 | 6.3 | 6.3 | 5.2 | 5.3 | 5.8 | 6.3 | 7.0 | 8.3 | 8.4 | 6.3 | 6.1 | 6.2 | 7.0 | 6.9 | 7.0 | 6.8 | 6.7 |
7.2
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| Timaru | 5.5 | 5.6 | 5.6 | 5.7 | 5.8 | 6.0 | 6.1 | 6.1 | 5.8 | 5.6 | 5.8 | 6.2 | 6.0 | 5.7 | 6.0 | 5.9 | 6.1 | 6.4 | 6.5 | 6.4 | 6.2 | 6.6 | 6.8 | 6.7 |
6.3
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| Queenstown/Frankton/Arrowtown | 3.6 | 4.0 | 4.0 | 3.7 | 4.0 | 4.2 | 4.0 | 4.1 | 4.3 | 4.2 | 4.2 | 4.3 | 4.4 | 4.6 | 4.3 | 4.1 | 4.5 | 4.3 | 4.6 | 5.2 | 5.0 | 4.8 | 4.9 | 4.7 |
5.3
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| Dunedin: | |||||||||||||||||||||||||
| Kenmure/Mornington | 5.3 | 4.8 | 4.6 | 4.7 | 5.2 | 5.3 | 5.1 | 5.5 | 5.7 | 6.2 | 5.9 | 5.4 | 5.8 | 6.3 | 7.5 | 6.5 | 6.3 | 6.7 | 7.9 | 7.1 | 6.6 | n.a. | n.a. | n.a. | n.a. |
| Mosgiel | 4.6 | 4.7 | 4.8 | 5.0 | 5.2 | 5.3 | 5.2 | 5.3 | 5.5 | 5.8 | 5.6 | 5.4 | 5.4 | 5.4 | 5.5 | 5.7 | 5.7 | 5.7 | 6.4 | 6.4 | 6.1 | n.a. | n.a. | n.a. | n.a. |
| South Dunedin/St Kilda | 6.1 | 5.5 | 5.4 | 5.7 | 6.2 | 6.5 | 6.9 | 6.4 | 6.8 | 7.3 | 7.6 | 7.6 | 8.6 | 8.0 | 7.9 | 7.5 | 8.1 | 7.4 | 7.2 | 8.0 | 8.2 | n.a. | n.a. | n.a. | n.a. |
| Invercargill | 6.7 | 6.6 | 6.6 | 6.7 | 7.1 | 7.0 | 7.2 | 7.7 | 8.3 | 8.2 | 7.9 | 7.9 | 8.9 | 8.3 | 8.3 | 7.9 | 8.3 | 8.4 | 8.7 | 9.1 | 9.0 | 6.7 | 9.0 | 9.2 |
9.5
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Source: Base data from REINZ / MBIE *Yield is a property's annual rent expressed as a percentage of its purchase price. The indicative yield figures in this table are gross, and are calculated from the REINZ's lower quartile selling price for three bedroom houses in each area during the previous 6 months, and the median rent for three bedroom houses calculated from new tenancy bonds received by the Ministry of Business Innovation and Employment for the same areas/period. This gives an indication of the gross rental yield that would have been achieved in each area if a three bedroom house was purchased at the lower quarter price and rented at the median rent for that that type of property in that area. |
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