PHOTO: FILE
đ Tenants gain leverage as rents drop and options surge across Aotearoa
April 2025 â New Zealandâs rental market has taken a historic turn in favour of renters, with rental listings hitting their highest point in more than a decade, according to new data from Trade Me Property.
đ In March 2025, national rental inventory surged by 41% year-on-year, reaching levels not seen since early 2014.
đŁď¸ âKiwis looking for a rental should feel empowered. The market is finally offering tenants more choice and negotiating power than theyâve had in years,â says Gavin Lloyd, Trade Me Property Customer Director.
đ¸ National Rent Falls â Tenants Save Hundreds
The national median weekly rent dropped to $635 in Marchâdown $5 from February and 2.3% year-on-year, giving tenants a welcome reprieve in a market long dominated by landlords.
đ° Compared to March 2024, the average tenant is now saving $15 per weekâamounting to nearly $800 annually.
đ§ Regional Rental Trends: Where Prices Are Rising
đ Nelson/Tasman hit a record-high median rent of $600, up from $585 in February.
đ Otago also surged to $630, with prices up 5% year-on-year and inventory climbing 16% from March 2024.
đ âIn lifestyle hotspots like Nelson, seasonal demand and population growth are driving rents up despite national downward trends,â Lloyd explains.
đ Aucklandâs Rental Market Splits
đď¸ 1â2 Bedroom Properties: All-time high of $595/week (+0.8% YoY)
đď¸ 5+ Bedroom Properties: Sharp decline to $1,080/week (â9.2% YoY)
Auckland renters in smaller units are feeling the pinch, while those seeking larger homes now have more bargaining power.
đ Wellington Leads Urban Rent Decline
Wellington saw the biggest urban rent drops in the country:
| Property Type | % Change | New Median |
|---|---|---|
| Units | â7.5% | $490 |
| Townhouses | â5.5% | $690 |
| Apartments | â4.2% | $570 |
đť Combined, thatâs a 3.3% overall urban rent drop in the capitalânearly double Aucklandâs (1.6%) and Christchurchâs (1.9%) decreases.
đşď¸ đ Regional Median Rents â March 2025
| Region | Median Weekly Rent |
|---|---|
| Auckland | $680 |
| Bay of Plenty | $680 |
| Canterbury | $560 |
| Gisborne | $650 |
| Hawkeâs Bay | $630 |
| ManawatĹŤ / Whanganui | $550 |
| Marlborough | $600 |
| Nelson / Tasman | $600 |
| Northland | $590 |
| Otago | $630 |
| Southland | $470 |
| Taranaki | $600 |
| Waikato | $580 |
| Wellington | $650 |
đ§ What This Means for Renters and Landlords
đĄ Tenants: Now is the time to shop around. With record supply and falling rents, renters have greater choice and stronger negotiating power.
đ Landlords: High inventory means competition. Setting realistic prices and flexible terms will be key to securing tenants in 2025.
