November's Monthly Rental Market Update

Average rent for typical Auckland home tips over $700 per week

Auckland’s rental market held to its recent pattern of flat pricing in November, with the region’s average weekly rent sitting just $1.28, or 0.2%, higher than a month ago, and $6.13, or 0.9%, higher than a year ago.

However, three-bedroom homes saw stronger movement than the overall market, with the average weekly rent rising $9.45, or 1.4% year-on-year, and surpassing $700 per week for the first time.

“Three-bedroom homes make up the bulk of the Auckland rental market, being nearly 40% of the 17,500 plus rental properties we manage across the region,” says Anil Anna, General Manager of Property Management at Barfoot & Thompson. “They are very much a benchmark for the ‘typical’ Auckland rental home and can provide insight into wider market trends.”

He says that while there is a lot of variation in three-bedroom homes across the city, from standalone properties to units and apartments, it’s clear that demand for them remains firm. “The appeal is very broad, offering enough space for many families, for groups renting together, or for singles and couples who want a bit more room for their work or hobbies.

“Increasingly, three-bedroom homes are also being seen as a more budget-friendly option by households who may previously have stretched to a four- or five-bedroom property, but are now looking to manage housing costs down.”

He said property managers were reporting more renters choosing smaller homes to reduce their future rent commitments, as well as renters seeking adjustments to their existing tenancy agreements to allow for more tenants to occupy bedrooms that may have been used as a work or extra living space previously. 

Where three-bedroom homes cost the least, and the most

The most affordable area for a three-bedroom home was Franklin and Rural Manukau, averaging $599.29 per week, followed by West Auckland at $648.58. Three-bedroom properties also continued to sit under the $700 threshold in South Auckland ($653.15), Rodney ($682.28), and Pakuranga/Howick ($691.98).

At the other end of the spectrum, Central Auckland remained the region’s most expensive, averaging $983.29 per week, with Anil noting these properties included large and high-end apartments. 

Largest homes see the least price change

While some property managers were also reporting increasing demand for four-bedroom properties, which saw an average rent rise of 1.2% year-on-year in November, five-bedroom and larger homes saw the smallest change, with less than $1 difference between November 2024 and November 2025.

“These homes are already at the upper end of the price scale, and demand patterns tend to be more stable,” says Anil.

Activity softens month-to-month but outpaces last year

Key measures of rental market activity dipped slightly from recent months, but remained well ahead of last year’s more subdued pace.

Enquiries totalled 23,644 in November, down 6.5% from October but nearly 20% higher than November 2024. More than 7,900 groups viewed rental properties during the month, up 10.4% year-on-year, and just under 3,000 tenancy applications were received, 6.5% more than a year ago.

There were also more homes for rent at the end of the month, 8.6% above the average of the previous three months, a lift that Anil says could be attributed to the usual seasonal lift in tenants choosing to conclude their tenancies at the end of the calendar year.

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 any property let during the month including new properties and new tenancies at already managed properties. 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 at listed properties 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.
Released on behalf of Barfoot & Thompson by Network Communication: Megan Green, 027 221 7126, megan.green@networkcommunication.co.nz

Barfoot & Thompson is New Zealand's largest private residential property management company, managing more than 21,000 properties.

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