May's Monthly Rental Market Update
Bounce in rental activity follows April holiday lull
Rental activity picked up again in May following April’s lull, carrying some, but not all, of the market’s early 2026 momentum into the cooler months of the year.
Data from Barfoot & Thompson, which manages more than 22,000 rental homes across Auckland, Northland and Bay of Plenty, showed an increase in almost every activity measure in May, compared with April and year-on-year. However, many metrics remained shy of the previous three-month average, a period that captured the market’s most recent peaks.
“May saw a return to regular programming for many households that had been juggling school holidays and long weekend breaks throughout April, and we saw a corresponding bounce back in renter engagement,” says Anil Anna, General Manager Property Management at Barfoot & Thompson.
Enquiries about properties for rent rose back above 26,500, up 8.8% on April and 29.5% on May last year, and with more property viewings able to be hosted in May, attendance increased 10.6% over April.
“When compared to the previous three-month average, however, enquiries were down 11.3% and attendance at viewings was down 8.8%,” notes Anil.
A total of 642 properties were let, up 2.6% year-on-year, and May closed with 696 properties available, on par with recent months.
“Despite recent market momentum, renters continue to have a good level of choice in most areas, and that is supported by ongoing price stability.
“For landlords, May’s activity continues to reinforce the value of getting the fundamentals right, especially this time of year when both the temperature and demand can cool.
“Well-presented and winter-ready homes that are priced sensibly are attracting interest and renting without long delays. Where listings miss the mark, renters simply wait for something that better suits their needs and their budgets.”
Three-bedroom homes, and properties with parking or garaging, were typically performing best, he says.
In Auckland, the average weekly rent was $697.42, up just $1.13 on April and holding at an increase of 0.8% year-on-year. By area, the North Shore saw the strongest movement, with average rents up 1.7%, potentially influenced by a greater proportion of new-build listings there.
The average rent for properties managed in each Northland and Bay of Plenty moved by 0.3% between April and May.
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 22,000+ rental properties and employing more than 300 property managers and support staff.
In Auckland, it manages around 18,500 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.
In January 2026, the agency was recognised as the Best International Lettings/Rentals Agency at the 2025-26 International Property and Hotel Awards.
Rental Activity*
| May 2026 | April 2026 | Previous 3-month average | May 2025 |
| Average weekly rent – Auckland $697.42 |
$696.29 -- |
$696.65 -- |
$691.72 +0.8% |
| Properties rented – All 642 |
574 +11.9% |
650 -1.2% |
626 +2.6% |
| Month end properties available – All 696 |
711 -2.1% |
701 -0.7% |
860 -19.1% |
| Enquiries – All 26,597 |
24,452 +8.8% |
29,971 -11.3% |
20,535 +29.5% |
| Viewings – All 4,444 |
3,617 +22.9% |
4,321 +2.9% |
4,690 -5.25% |
| Shown through – All 8,973 |
8,111 +10.6% |
9,835 -8.8% |
7,690 +16.7% |
| Applications – All 3,236 |
3,249 -0.4% |
3,925 -17.6% |
2,959 +9.4% |
* 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 22,000 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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