PHOTO: FILE
Renters across New Zealand are finally getting some much-needed good news: Rental listings have hit a 10-year high, creating a true renter’s market.
If you’ve been battling skyrocketing rents and fierce competition, 2025 might just be your golden opportunity to snag a dream rental — and even score some unexpected freebies along the way.
Let’s break down what’s happening and why smart tenants are taking full advantage right now.
Rental Listings Surge by 41% — Here’s What It Means for You
According to the latest Trade Me Property data, rental listings in March 2025 were up an incredible 41% year-on-year.
This massive surge means renters now have more options than ever before, giving them new bargaining power in the market.
On top of that, median rent prices have slipped by 2.3%, now sitting at $635 per week nationwide.
After years of relentless rent hikes, many tenants are finally seeing some relief — and landlords are feeling the pressure.
“It’s quite hard to sell properties at the moment, so a lot of unsold homes are flooding back into the rental pool,” explained Trade Me Property’s Gavin Lloyd.
In short: more rentals + lower prices = a big win for tenants.
Landlords Get Creative: Free Rent, Grocery Vouchers, and More
With so many properties available, landlords are pulling out all the stops to attract tenants.
Some of the incentives currently on offer include:
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Subsidized rent deals
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Free weeks of rent
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Grocery vouchers
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Free TV upgrades
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Discounted move-in costs
As Gavin Lloyd noted, landlords are getting “quite creative” because empty properties are costing them big time.
Even seasoned property investors like Adam Cockburn are feeling the squeeze.
One of his Wellington rentals, previously fetching $1200 a week, is now listed for just $650 — and it’s still sitting empty after six weeks.
“It’s definitely a bit of stress I’d rather not have,” Cockburn admitted.
Why Some Areas Are Still Seeing Rising Rents
While the national trend favors renters, it’s not universal. Some regions are bucking the downward trend:
| Region | Median Weekly Rent | Change |
|---|---|---|
| Nelson Tasman | $600 | Record high |
| Otago | $630 | +5% |
| Waikato | $600 | +2.7% |
Renters United’s Lucy Walker cautions that while renters have more choice, it’s still expensive to live in many parts of New Zealand.
“There might be a bit more power on the side of the tenant, which is great,” she said, but emphasized that affordability challenges remain in high-demand areas.
How Renters Can Make the Most of This Market
If you’re hunting for a rental right now, here’s how to make the most of the renter’s market:
Negotiate the Rent — With more listings and less competition, don’t be afraid to ask for a lower rate. Look for Incentives — Ask landlords about move-in bonuses like grocery vouchers or rent discounts. Expand Your Search Area — You might find better deals slightly outside the major city hubs. Act Fast on Good Deals — While you have more options, the best properties will still move quickly.