Average rental prices are on the decline across most of New Zealand according to the latest data from realestate.co.nz, with some cities hit worse than others, but there are three regions where rent is going up instead
Source: Wikipedia
The national average rental price was $636 in June this year, down 2.7% from $653 in June 2024.
Renters in the capital had the greatest respite – Wellington’s average rental price dropped by a hefty 10.9% to $625 per week compared to $701 per week at the same time last year. Those renting property in Hawke’s Bay also experienced a greater than average drop in rental prices, down 6.6% from $677 in June 2024 to $632 this year.
Declining rental prices in a tough economic climate is welcome news for renters, says realestate.co.nz spokesperson Vanessa Williams.
“We know that any reduced cost, no matter how big or small, does make a difference for many household budgets,” she says.
In some areas the year-on-year increase has been relatively stagnant, but there is no respite for renters in the south. Southland’s average weekly rent of $489 in June was the region’s highest on record, 6.1% more than June 2024 ($461). It’s a continuing trend for the Southland property market, which also set an all-time asking price high for the second month in a row in the June 2025 New Zealand Property Market.
Williams says Southland’s performance has been an intriguing one to follow.
“The region is certainly bucking the trend, for both home buyers and renters. It will be interesting to see what Southland’s property market does over the coming months as we move into spring.”
Southland’s neighbouring regions have also seen rent price increases. West Coast’s average weekly rental price of $433 is also 9.1% higher than the same time last year ($396), and the average weekly rental price in Otago has increased from $571 in June 2024 to $616 in June 2025, a year-on-year increase of 8.0%. The Coromandel also experienced a year-on-year increase of 5.1%.
Renters also have more options than they did last year thanks to a lift in listings. There were 15.3% more new listings coming onto the market than a year ago. Gisborne, Hawke’s Bay, and Wellington are the top three regions with the greatest year-on-year increase in new listings, reporting 96.0%, 84.9% and 82.2% respectively.
Wellington’s 82.2% increase saw the number of new listings rise from 276 in June 2024 to 503 in June 2025; Waikato also saw a significant increase, rising from 479 in June 2024 to 647 in June 2025.
“Greater choice in the market is also keeping prices honest,” says Williams.
“And, with the Healthy Homes deadline having now passed, renters should be assured that a new listing should also be Healthy-Homes compliant.”
