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 536 suburbs with enough lodged bonds to rank, the published median rent for all rentals rose in 388, held roughly steady in 75 and eased in 73 over the year to January–March 2024. Onslow climbed hardest (+47.7%); Welbourn moved furthest the other way (-37.8%).

over the year

Biggest risers

  1. Onslow+47.7%
  2. Melville South+46.5%
  3. Georgetown+39.6%
  4. Mellons Bay+38.3%
  5. Hospital Hill+37.5%

over the year

Biggest falls

  1. Welbourn-37.8%
  2. Wellington Central-25.8%
  3. Hokowhitu Central-25.7%
  4. Meadowbank East-22.8%
  5. Ponsonby East-20.5%

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. Remuera Waiata$915/wk

median /wk

Cheapest suburbs

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

bonds lodged

Busiest markets

  1. Gardens (Dunedin City)558 bonds
  2. Greensboro309 bonds
  3. Campus South297 bonds
  4. Hobson Ridge Central282 bonds
  5. Campus West267 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 (979 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).