January's Monthly Rental Market Update
Renters return: activity reaches near two-year high
Renter activity during January reached levels not seen in almost two years, according to insights from the country’s largest private residential property management agency, Barfoot & Thompson.
“It was a very busy start to the year for our teams across Auckland, Northland and Bay of Plenty, driven by renewed renter interest and action,” says Anil Anna, General Manager Property Management for Barfoot & Thompson.
“While January is often one of the busiest months of the year, as renters resume their searches after the holidays and, in Auckland especially, students look for accommodation, this January’s rise was particularly pronounced given how subdued the market was through most of 2025.”
The agency received 30,850 rental listing enquiries during January 2026, a 37.6% increase on what was a busy December, and up 21.4% on January a year ago.
“This was the first month enquiries have exceeded 30,000 since February 2024, although still shy of recent peaks in 2023 when net-migration was at an all-time high.
Barfoot & Thompson responded to the increased interest by hosting more property viewings, up 9.4% on January 2025 to 5,197, and received an 18.4% increase in applications, totalling 4,075.
“Applications in January were 44% higher than in December, and the highest since mid-2024,” says Anil. “This shows renters are not just exploring what’s on the market, but are ready to act when they find the right home.”
Renters moved particularly quickly in the Auckland CBD apartment market, popular among tertiary students, with most of the City branch’s available listings snapped up during the month.
“We’d advise renters looking in the city and fringe to move fast, and for property owners with apartments to let to list while demand is strong.”
Outside the city, supply remained relatively high, with available listings at the end of the month down only 6.8% on the three month average.
Anil says the recent period of good supply and price stability may be a key factor in the renewed renter interest.
“There are indications that more landlords are heading market expectations and pricing competitively to reduce the time their property may be vacant,” he says, citing that around 70% of properties let during January were rented at their first listing price, compared to the typical 55 to 60%.
In Auckland, where the agency manages more than 17,500 properties, at the end of January the average weekly rent was $695.80, down slightly on December’s average of $696.19, and up only 0.6% on the same period a year earlier ($691.51).
By size, one-bedroom homes led the Auckland market’s pace, up 1.2% year-on-year, while large homes saw prices dip 0.3% on average.
Regionally, homes in Rodney and on the North Shore saw the greatest increase in price, up 1.5% and 1.7% year-on-year respectively, while Auckland CDB prices retreated the most, down 2.0% year-on-year, a flow on effect from a previous period of lower interest and high supply.
Branches in Northland and Bay of Plenty recorded similar overall pricing trends, with local average rents up 0.2% and 0.7% respectively between December 2025 and January 2026..
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*
| January 2026 | December 2025 | Previous 3-month average | January 2025 |
| Average weekly rent – Auckland $695.80 |
$696.19 -- |
$695.85 -- |
$691.51 +0.6% |
| Properties rented – All 667 |
598 +11.5% |
632 +5.6% |
654 +2.0% |
| Month end properties available – All 758 |
698 +8.6% |
813 -6.8% |
821 -7.7% |
| Enquiries – All 30,850 |
22,425 +37.6% |
23,803 +29.6% |
25,420 +21.4% |
| Viewings – All 5,197 |
4,430 +17.3% |
4,851 +7.1% |
4,751 +9.4% |
| Shown through – All 10,209 |
7,226 +41.3% |
8,015 +27.4% |
9,051 +12.8% |
| Applications – All 4,075 |
2,830 +44.0% |
3,004 +35.7% |
3,442 +18.4% |
* 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.
For more information contact a property manager or to find out how much rent you can achieve, ask for a rental appraisal.
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