Renters enticed with new deals
The Auckland rental market is witnessing a significant shift, with a 40% increase in listings over the last three months, creating a competitive environment for landlords and potentially lower rents.
This surge in rental listings is attributed to many new builds nearing completion, which has expanded the rental pool and influenced rental prices due to heightened supply and demand dynamics.
Increased rental listings and market dynamics
Auckland’s rental market is seeing a flood of available properties, with new rental listings rising by 34% compared to last year, TradeMe data showed.
The current market scenario has been likened to musical chairs by Mike Atkinson (pictured left), managing director of Aspire Property Management.
“At the moment there are a lot more chairs than there are people playing the game, so it’s a lot easier to get a seat,” Atkinson told RNZ.
Incentives for potential tenants
Landlords are introducing creative incentives to attract renters.
Aspire Property Management currently has properties offering $500 grocery vouchers and a week’s free rent, particularly common among apartment listings. Other properties are offering up to two weeks of free rent or reducing their weekly rental price by up to $60, RNZ reported.
Advice for renters
With rental costs consuming a record-high portion of household incomes, Atkinson advised tenants to seek lower weekly rents for long-term benefits.
He encouraged prospective tenants to negotiate if they find a desirable property that’s slightly out of their budget.
“If you find a property that you think is a nice property, that you’d like to live in but it’s $20 a week more than you think you can afford to pay, then definitely put an offer in to the agent or landlord,” Atkinson said.
Challenges in the rental market
Despite the growing number of properties available, median rent prices in Auckland have remained steady at around $650 per week as of early 2025.
However, the market dynamics have led to varied experiences across different segments, with some areas possibly needing to adjust rents to attract tenants.
Many properties are remaining vacant for longer periods compared to the previous year, which is contributing to the increased number of available rentals, especially in areas like South Auckland where there has been nearly a 60% rise in available rentals, RNZ reported.
Tenant perspectives
Visiting a viewing in Mount Roskill, RNZ spoke with house hunters about their experiences.
Prashitesh and Palvi, searching for a family home, noted the incentives but found them insufficient to sway their decision, often because the properties were not in their desired location or didn’t meet their standards.
Another flat hunter, Parush, commented on the abundance of options compared to two years ago.
“We’ve already looked at 20-25 houses so it’s good, there are lots of options,” he said.
Rental price trends and advocacy insights
Recent data from realestate.co.nz indicated a decrease in the average rental price in Auckland to $689 a week, a 4% drop from the previous year.
However, Zac Thomas (pictured right), president of Renters United, cautioned that the notion of a renters’ market might be overstated, pointing out a persistent power imbalance that prevents most renters from securing lower prices.
His advice to those who do manage to negotiate a favourable rent is to “lock it in their contract for as long as possible,” RNZ reported.
