Flat Rental Pricing Draws Renewed Interest

The average Auckland rental price remained flat during August amidst early signs of renewed renter interest and rebounding activity.

Based on more than 17,500 properties managed by Barfoot & Thompson in the region, the agency recorded an average weekly rent of $694.34 in August, near equal with the July average of $694.59.

Compared to the August 2024 average ($683.83), it rose just 1.5%.

“August continued to entrench the flat pricing trend seen over the past 12 to 18 months,” says General Manager Property Management Anil Anna, adding: “This is one of the lowest annual increases in average weekly rent recorded since the Covid-impacted periods of 2020.”

This pricing trend contrasts with key activity indicators, which were starting to show an upwards trajectory: “Following a very subdued first half of 2025, we saw a flurry of renter interest and activity in July, and some of that momentum appears to have carried into August.

“While enquiries were down slightly from July’s peak, they’ve remained 5.8% above the 3-month average. Applications, which were on par with last month, were also up 7% on the 3-month average.

Fewer properties were let in August compared to last month, however, the number of listings available at the end of the month were down 4.6% on end July and 8.3% on the 3-month average.

“Renters still have plenty of choice at the moment, and many are taking this opportunity to explore what is available on the market.”

For landlords, Anil says competitive pricing to retain existing tenants or attract new ones was particularly important in a market where renters have so many options to consider.

“We’re still seeing a notable portion of listings adjust their advertised rent downward to attract interest, reinforcing price as a key factor in tenant decision-making.”

Looking across the region, prices were down 2.1% in Auckland Central, suggesting a deepening of the corrective pricing cycle already underway in the apartment-dominated market following strong price recovery during late 2023 and early 2024.

“Outside of the city and fringe, three and four-bedroom standalone homes with parking were often in higher demand and attracting the most interest, compared to smaller terraced properties, for example.”

The Franklin and Rural Manukau area experienced the highest percentage change in rent by location, with the average weekly pricing up 2.5% year-on-year. “This may have been supported by the area’s greater proportion of higher priced rural and lifestyle properties, offering special features like paddocks and sheds.”

Notes:

Barfoot & Thompson’s Property Management division operates in company branches across Auckland, Northland and Bay of Plenty. It is New Zealand’s largest private residential property management company, managing 20,000+ rental properties and employing more than 300 property managers and support staff.

In Auckland, it manages around 17,500 properties at any one time. Three-bedroom properties represent over a third of this portfolio, followed by two-bedroom properties at just over a quarter. Across Auckland, it manages the most properties in West Auckland (>2,500), followed closely by South Auckland, North Shore and the Eastern city fringe suburbs. The division’s data from Central Auckland is made up of almost entirely apartments.

Rental activity

Glossary of terms: Average weekly rent is specific to properties in the Auckland region. All other figures are from Barfoot & Thompson's total portfolio. Properties rented includes new properties and new tenancies at already managed properties let during the month. Month end properties available is the number of properties listed for rent at the end of the calendar month. Enquiries is the total number of enquiries via the Barfoot & Thompson website, third-party sites, phone calls and emails. Viewings is the total number of open and by appointment viewings hosted during the month. Shown through is the number of individuals or groups registered to attend any viewing. Applications are complete applications received to rent a listed property.

Average weekly rent – Auckland, year-on-year comparison

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