New Zealand rents, January–March 2024

How rents sat and moved across New Zealand in January–March 2024, computed from that quarter's official rental-bond release.

The national picture

$600national median /wk

National median up 6.2% over the year (+$35/wk).

Across the 540 suburbs with enough lodged bonds to rank, the published median rent for all rentals rose in 384, held roughly steady in 78 and eased in 78 over the year to January–March 2024. Melville South climbed hardest (+46.5%); Welbourn moved furthest the other way (-44%).

over the year

Biggest risers

  1. Melville South+46.5%
  2. Upper Riccarton+41.1%
  3. Mellons Bay+38.3%
  4. Hospital Hill+37.5%
  5. Taita North+36.2%

over the year

Biggest falls

  1. Welbourn-44%
  2. Wellington Central-28.2%
  3. Hokowhitu Central-25.7%
  4. Meadowbank East-22.9%
  5. Oriental Bay-20.6%

median /wk

Dearest suburbs

  1. Campbells Bay$975/wk
  2. Remuera North$958/wk
  3. Herne Bay$950/wk
  4. Saint Heliers North$940/wk
  5. Glendowie South$905/wk

median /wk

Cheapest suburbs

  1. Middleton$180/wk
  2. Point England$223/wk
  3. Awatea North$230/wk
  4. Mairehau North$235/wk
  5. Warren Park$275/wk

bonds lodged

Busiest markets

  1. Gardens (Dunedin City)555 bonds
  2. Greensboro306 bonds
  3. Campus South297 bonds
  4. Hobson Ridge Central285 bonds
  5. Campus West264 bonds

Figures are each suburb's published all-rentals median as at January–March 2024, from MBIE's detailed quarterly rental-bond data (SA2-2019 areas). Suburbs with fewer than 20 lodged bonds that quarter are set aside from the ranking (972 this quarter). Free to reuse with attribution (CC BY 3.0 NZ): "New Zealand's median weekly rent was $600 in January–March 2024, from MBIE rental bond data via RentTrends (https://renttrends.co.nz/reports/2024-q1)." · download the ranked data (CSV).