South Island rental prices rising faster than national average
Tuesday 6 October 2026 · 2 outlets · 2 reports · updated In this story realestate.co.nz
Rents in several South Island regions are increasing at more than twice the national rate. Central Otago/Lakes District recorded the highest annual growth at 7%, with average weekly rents reaching $858 in September.
Key facts
4 facts
- National average weekly rent rose 1.9% to $636 in September
- Central Otago/Lakes District recorded the highest rent increase at 7%
- New national rental listings increased by 5.1% to 6,729
- Auckland residential asking prices dropped below $1 million for the first time in six years
The full story
1 min read · 2 outlets
Rental prices in several South Island regions are increasing at more than twice the national rate. The national average weekly rent rose 1.9% over the past year to $636 in September.
Central Otago/Lakes District saw the country's highest annual increase, with average weekly rents rising 7% to $858. Other South Island increases included Canterbury at 5.8% ($597), the West Coast at 5.4% ($478), Otago at 5.3% ($581), and Marlborough at 3.4% ($577).
New rental listings increased by 5.1% nationally to 6,729 in September. This growth was largely driven by the North Island, specifically Gisborne, which saw a 66.7% increase in new listings.
In Auckland, average weekly rents rose 1.2% to $695, while residential asking prices fell below $1 million for the first time in six years. Vanessa Williams of realestate.co.nz noted that the combination of lower property prices and stable rents could attract prospective investors.
Compiled from reports by The Post and Stuff.