Property Investment
2 min read
The rental market is constantly changing. Sometimes it’s up, and sometimes it’s down.
That's true for NZ (as a whole) and each specific region.
Property investors want to know: “What’s going on in the rental market right now?”
In this article, you'll learn:
This is all to keep you informed about what's going on in the rental market.
The median rent in New Zealand is $595 (June, 2026). That's unchanged since the same time last year.
How hard is it to find good tenants at the moment? According to Tony Alexander's survey, a net 29% of investors say that it is harder to find good tenants.
That means there are more investors who say it is hard to find good tenants compared to the number of who say it is easy to find good tenants.
Looking at TradeMe data, there were 5,100,000 rental listing searches in July (2026). That's up 2% compared to the same time last year.
On top of that, there were a total of 12,248 new rental listings that came onto that site. That's down 8% on the same time last year.
So rental demand is up, but supply is down.
How long does it take to find a tenant? The average rental listing spends 22 days on TradeMe. That is up 0% year on year (+0 days).
Rents around the country don't all go up at the same rate. Sometimes Auckland rents will go up faster than those in Wellington.
Sometimes Christchurch's rents will be calm, while Dunedin is booming.
As at June 2026 Manawatu-Wanganui has seen the biggest increase in rents. The median rent is $520 a week. That's up $20 a week (4.00%) compared with the same time last year.
At the other end of the scale, Hawke's Bay has seen the biggest decrease. The median rent is $590 a week, down $30 a week (-4.84%) over the last 12 months.
Meanwhile, in Auckland, the median rent is $650 a week. That's unchanged compared with a year ago.Here are the rents for every region in New Zealand, along with how fast they are going up (or down).
This table automatically updates every month as new data is released.
As part of my rental market update, I like to hear what property managers are seeing on the ground.
Here’s the latest from our team at Opes Property Management.
Christchurch's rental market remains steady, but there are signs that tenant demand is picking up. Trade Me data shows 8% more people searching for rentals compared with this time last year.
Winter is also behind us. So, it’s traditionally the time when more tenants start looking for their next home.
We're already seeing that come through in busier property viewings.
For investors that doesn't mean you can push the rent too hard. Even in a steady market, tenants still have options. That means getting the price right from day one matters.
If you price too high, you risk missing that first burst of interest and having to drop the rent later.
Once your property is advertised, the number of enquiries you're getting is one of the best clues you've got.
If the phone isn't ringing, your property manager can use that feedback to work out whether the rent, marketing or something else needs adjusting.
Auckland's rental market is busier than it was this time last year.
Last year, we had to constantly think outside the box and try different ways to get properties rented. This year, things have changed.
There are more people looking for rentals, but fewer properties coming onto the market. That's making it easier to find tenants.
At Opes, we're now regularly renting more than 10 properties a week. We recently hit a record of 19 properties rented in a single week. The data backs that up too. Trade Me data shows 7% more people searching for rentals compared with this time last year. At the same time, there are 4% fewer new rental listings.
But that doesn't mean investors can put any rent they like on a property and expect tenants to pay it.
You still need to set the rent based on what tenants are willing to pay today.
How the property looks, how it's advertised, how many viewings you hold, the rent you ask for and the quality of the home can all affect how quickly you find a tenant.
Resident Economist, with a GradDipEcon and over five years at Opes Partners, is a trusted contributor to NZ Property Investor, Informed Investor, Stuff, Business Desk, and OneRoof.
Ed, our Resident Economist, is equipped with a GradDipEcon, a GradCertStratMgmt, BMus, and over five years of experience as Opes Partners' economist. His expertise in economics has led him to contribute articles to reputable publications like NZ Property Investor, Informed Investor, OneRoof, Stuff, and Business Desk. You might have also seen him share his insights on television programs such as The Project and Breakfast.
This article is for your general information. It’s not financial advice. See here for details about our Financial Advice Provider Disclosure. So Opes isn’t telling you what to do with your own money.
We’ve made every effort to make sure the information is accurate. But we occasionally get the odd fact wrong. Make sure you do your own research or talk to a financial adviser before making any investment decisions.
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