More rental properties came onto the market in January, while average rents edged slightly lower nationwide.
In January, the total number of properties listed for rent was 12.8% higher than in January 2025. New rental listings were also up 9.8% year-on-year, signalling stronger supply at the start of 2026.
At the same time, the national average rent sat at $634 per week, down 2.0% compared with a year earlier. Across the 19 geographies monitored by Cotality, rents fell in 12 regions and rose in 7, underlining the uneven nature of the market.
Realestate.co.nz Spokesperson Vanessa Williams said landlords in some areas were having to adjust their expectations, becoming more competitive on price where supply had increased.
“We’re seeing rental markets behave very differently across the country,” she said. “More choice gives renters leverage, but in markets where supply hasn’t lifted, prices remain resilient.”
Ms Williams described the rise in rental stock as an encouraging sign of activity.
“Overall, this is a rental market offering very different experiences depending on where renters are studying or relocating,” she said.
“For those who have flexibility around location, there are real opportunities emerging, but in tighter markets, preparation and speed remain key. Understanding local conditions has never been more important.”
What this means for renters and investors
Higher stock levels typically give renters more bargaining power, especially in regions where listings have increased sharply. In these markets, tenants may have greater scope to negotiate rent or secure better-quality properties for similar prices.
However, in areas where supply has not lifted, competition can remain strong. Prospective tenants may still need to act quickly and ensure their applications are well prepared.
For property investors, these trends reinforce the importance of setting realistic rent levels and understanding neighbourhood-specific dynamics rather than relying solely on national averages.
I’d be grateful for an introduction to any of your clients who are thinking about buying an investment property or transitioning from renting to owning.
