Data from property website realestate.co.nz revealed which of New Zealand’s three most populated regions—Wellington, Auckland, and Canterbury—had the lowest rent in February.
According to data, renters in Wellington and Auckland may be paying lower rents compared to a year ago, while rental prices in Canterbury have remained largely unchanged.
Average rents in Wellington decreased by 8% compared to February 2024, settling at $673 per week. This reduction translates to an annual savings of approximately $3,016 for renters.
Auckland has decreased by 4.1% to $689, resulting in an annual savings of approximately $1,560 for renters.
In Canterbury, rental prices have remained largely stable, with a slight decrease of 0.4% to $586 per week. This translates to modest annual savings of $104, or just $2 per week.
“While lower average rents indicate a more tenant-friendly market in Auckland and Wellington, renters may not immediately experience these savings. Those on fixed-term leases may still be paying higher rents, so new renters or those renewing agreements are more likely to benefit,” spokesperson for realestate.co.nz, Vanessa Williams, said.
Based on the latest household income data from Stats NZ (June 2024), the estimated percentage of disposable household income allocated to rent in February 2025 is approximately 29.7% in Auckland, 29.8% in Wellington, and 30.6% in Canterbury.
This means that although rental prices in Canterbury have remained stable, renters in the region spend a slightly higher percentage of their income on rent compared to those in Auckland and Wellington.
Rental costs in Auckland, Wellington, and Canterbury are close to the commonly cited affordability threshold of spending 30% of income on rent. However, Vanessa Williams noted that this benchmark oversimplifies the issue, as affordability is influenced by a broader range of factors, including income levels, inflation, rising grocery and utility costs, and “whether wages have kept pace with overall expenses.”
Meanwhile, for finance journalist Frances Cook, “This will be welcome news to many renters, as housing is one of the biggest costs in the average budget. The standard advice is to try not to spend more than 30% of your income on housing, but frankly, that’s been really difficult for a while now.”
“For many people, it was nudging up past 50% of their income, going towards just keeping a roof over their heads. If you can snag one of these cheaper properties and then start working on a pay rise, that’s a double hit that would help a lot of people.”