The national median weekly rent increased by $10 per week in January compared to the month prior, but the supply of rental listings is also up significantly, according to data from Trade Me Property’s latest Rental Price Index.

This could indicate future downward pressure on prices as more properties are available and renters have more choice, says Trade Me Property Customer Director Gavin Lloyd.

The number of rental listings on Trade Me Property in January was up 13 per cent nationally compared with December, and 40 per cent year-on-year. The majority of new listings concentrated in Auckland (11,107, up 13% month-on-month), Wellington (4,030, up 22% month-on-month), and Canterbury (2,591, up five per cent month-on-month).

Gavin Lloyd says this additional choice presents a more competitive landscape for landlords.

"With so many rental options available, securing a long-term tenant could be more challenging than in recent times. Affordability is a key concern from tenants who are looking at price along with location and proximity to amenities as key decision points.

“Attractive, well-presented and maintained rental properties will always be popular, and landlords with properties that have been vacant for a while might need to consider making their property more competitive, either by adding improvements or reducing the price.”

January Rental Price Index 2025

Rents in the regions

Urban living blues