Kiwi Renters Enjoy Effective Rent Cut as National Prices Remain Flat

Kiwi renters are experiencing an effective rent cut due to stagnant national rental prices. The latest Trade Me Property Rental Price Index for July shows that national median rents have remained flat at $620 per week, similar to June and a year ago.

This trend marks the eighth time in nine months where there has been no change to rent at the national level, according to Trade Me Property Spokesperson Casey Wylde. When looking beyond the headline figure, Wylde notes that stagnant rents are acting as an inflation shock absorber, particularly when compared to rising costs of power bills, insurance, rates, and groceries.

The freeze in rental price increases is being sustained by solid market supply, with total inventory on Trade Me Property increasing 0.5% from June, though down 9% from July 2025. Regional markets are showing noticeable shifts, with median weekly rents decreasing in Tāmaki Makaurau Auckland and Nelson/Tasman, but increasing in Canterbury and Otago/Southland.

Wylde suggests that the softening of regional markets is giving renters greater room to negotiate, while areas like Canterbury are experiencing strong localised demand, driving specific property types to record levels. The Trade Me Property Rental Price Index provides a comprehensive monthly insight into rental market trends across New Zealand.