Rental prices across much of New Zealand are trending downward, with realestate.co.nz reporting a national average weekly rent of $636 in June 2025, down 2.7% from $653 in June 2024.
Wellington saw the most significant drop, with average rent falling 10.9% year-on-year to $625, followed by Hawke’s Bay, down 6.6% to $632.
Vanessa Williams, spokesperson for realestate.co.nz, said the easing in rents would be a relief for many: “We know that any reduced cost, no matter how big or small, does make a difference for many household budgets.”
Meanwhile, rental prices are rising in southern regions. The West Coast is up 9.1%, Otago has risen 8.0%, and Southland has reached its highest recorded average of $489 per week, up 6.1% from June 2024.
“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,” said Ms Williams.
She added that with 15.3% more new listings nationally, renters are also seeing increased choice.
“Greater choice in the market is also keeping prices honest. And, with the Healthy Homes deadline having now passed, renters should be assured that a new listing should also be Healthy-Homes compliant.”
