The Property Management Regional Rental Report (September 2025) provides a detailed look at the New Zealand rental market, highlighting rental yields, affordability, and regional rent trends. Covering data from 2016 to 2025, it offers valuable insights for property investors, landlords, and tenants.
Falling property prices have opened the door to stronger rental yields across the regions. According to David Faulkner, General Manager of Property Management at Property Brokers, the West Coast (7.37%), Manawatū/Whanganui (5.98%), Gisborne (5.79%) and Southland (5.73%) are currently delivering the strongest returns. In contrast, the Bay of Plenty (4.22%) and Whangārei (4.59%) record the lowest yields.
Faulkner suggests this creates opportunity for investors: “A prudent investor will see value in retrofitting older housing stock, boosting rental income and capital growth at the same time.”
The Regional Rental Report shows rents have become more uniform nationwide. Auckland is no longer the clear outlier. In fact, Wellington briefly overtook Auckland in early 2025. The national average weekly rent sits at $636, with Auckland at $698. Regional changes are notable: Otago rents increased $46 in the past year, while Wellington rents dropped $76
Despite narrowing regional gaps, rental affordability remains under pressure. On average, New Zealand households now spend 46% of their income on rent. Gisborne is the most stretched, with households spending between 54–60% of income on rent, while the West Coast remains the most affordable at 33%
- Investors - looking for regions with higher rental yields and growth potential
- Tenants - understanding where affordability pressures are greatest
- Policymakers - assessing the balance between wages, property prices, and rents
The report includes expert commentary, detailed charts, and regional breakdowns that provide a clear picture of the New Zealand rental housing market in 2025.
👉 Read the full Regional Rental Report here
