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Property prices (overall) have remained relatively static recently, due in part to uncertainty surrounding the upcoming general election. The rental market also appears to be levelling off.
Following record-setting months, the market has been quieter across Auckland, including Franklin, Barfoot & Thompson’ Anil Anna confirms.
“Many households looking to settle into a new home at the start of the year will now have done so, while ongoing economic uncertainty and cost of living pressures could be making people more cautious about moving,” he says.
“While renter engagement remains well ahead of this time last year, affordability is playing a big role in renters’ price expectations and decision making.”
The average weekly rent in Auckland hasn’t changed much, increasing less than one per cent year-on-year.
Rental prices in South Auckland increased by 1.3 per cent compared to April 2025 to an average of $645.10. Franklin and rural Manukau saw an increase of 0.8 per cent with an average rental price of $620.70.
Barfoot & Thompson received more than 24,450 enquiries about properties for rent during April, dropping from a recent peak of more than 32,000, but still 25.4 per cent higher than in April last year.
The number of people viewing and applying to rent properties across the city followed a similar pattern, with both measures down in March but up 12.1 percent and 19.4 per cent (respectively) year-on-year.
The proportion of properties rented at their initial advertised price continued to increase with more than 70 per cent securing tenants without requiring a reduction, Anna adds.
“This is the highest proportion we’ve seen for two years and points to stronger alignment between landlord expectations and what renters are prepared to pay. Landlords who price realistically from the start are generally seeing stronger engagement and faster results, which can be especially important as renter demand levels off.”
More details regarding Barfoot & Thompson’s findings are accessible via www.barfoot.co.nz.
