October's Monthly Rental Market Update
More properties, sharper prices for Auckland renters
Auckland renters are heading into summer with more properties and sharper prices to choose from.
The average weekly rent at the end of October was $695.05, virtually unchanged from September, being down just 18 cents. Compared to October a year ago, Auckland’s average weekly rent moved less than 1%, increasing by $5.22.
“This is the smallest annual movement in average weekly rent we’ve observed in October in the past 10 years,” says Anil Anna, the General Manager of Property Management for Barfoot & Thompson.
“By comparison, the average year-on-year October price movement has ranged from as low as $8.91 between 2019 and 2020, which captured the first month following a six-month rent freeze due to Covid, to as high as $28.92 between 2023 and 2024.”
The figures are based on weekly rents paid across the more than 17,500 residential properties managed by the company around the Auckland region, covering both existing and new tenancies to reflect the full spectrum of market pricing.
Anil says that sitting behind the stable rent figures is a very competitive pricing environment, with a long period of subdued demand coupled with good supply putting downward pressure on rents.
“Since May 2024, we’ve recorded a steady trend of between 30% and 40% of properties being rented for less than their original listing price. This continued at 36% in October 2025.
“This means around a third of landlords are shifting their listing prices down to meet the market. Those renewing tenancies are also tending to keep rents the same, and in some very competitive areas, even lowering rents to maintain a tenancy.
He says generally, areas with particularly high levels of stock are under more price pressure, as are large 4 and 5+ bedroom homes, terraced properties and apartments.
“This shows, again, how critical price is for renter decision-making in the current climate, and the need for more landlords to list within those expectations and constraints.”
Renter enquiry levels and viewings lifted in October, however, likely driven by the return of warm sunny weather and the appeal of the wider selection of homes and sharper pricing on offer.
“October was our third busiest month for enquiries in 2025. While we are still some way off the October 2023 peak of more than 31,700 enquiries, it’s enough to see this interest flow through in increased viewings and applications as well.”
The agency rented 675 properties in October, up 13.8% on September, while viewings climbed 11.5% and applications rose 8%. There were 855 rental properties listed at the end of October, up around 7% on the previous 3-month rolling average.
By property size, the average price for a typical three-bedroom home in Auckland – the size making up the largest proportion of stock – remained hovering below the $700 mark, at $699.87.
By location, modest increases were seen on the North Shore (1.9%), Rodney (1.7%), and South Auckland (1.4%), while Central Auckland, Central West and Pakuranga/Howick recorded small declines (between -1.75% and -0.1% respectively).
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*
| October 2025 | September 2025 | Previous 3-month average | October 2024 |
| Average weekly rent – Auckland $695.05 |
$695.23 -- |
$694.72 -- |
689.83 +0.8% |
| Properties rented – All 675 |
593 +13.8% |
629 +7.3% |
621 +8.7% |
| Month end properties available – All 855 |
830 +3.0% |
800 +6.9% |
861 -0.7% |
| Enquiries – All 25,321 |
22,239 +13.9% |
24,249 +4.4% |
20,893 +21.2% |
| Viewings – All 5060 |
4537 +11.5% |
5050 +0.2% |
4751 +6.5% |
| Shown through – All 8899 |
7724 +15.2% |
8276 +7.5% |
7489 +18.8% |
| Applications – All 3189 |
2951 +8.1% |
3036 +5.1% |
3012 +5.9% |
* 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.
Not subscribed to our landlords' newsletter, the Property Management Insider? Sign up now