Gross rental yields in New Zealand: Auckland and 2 other cities
The average gross rental yield in New Zealand stands at 4.12% (2026, Q1). Previously, in Q3 2025, the rental yield was 3.99%.
Prices are shown in US$.
Cities compared
- Auckland
- Wellington
- Christchurch
Historical rental yields in New Zealand
| AUCKLAND - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Auckland Central | |||
| 1-Bedroom | $207,100 | $1,030 | 5.97% |
| 2-Bedroom | $293,700 | $1,270 | 5.19% |
| Auckland (all locations) | |||
| 1-Bedroom | $276,400 | $1,040 | 4.52% |
| 2-Bedroom | $380,200 | $1,340 | 4.23% |
| 3-Bedroom | $673,600 | $1,860 | 3.31% |
| Auckland (apartments) avg. Rental Yields | 4.02% | ||
| WELLINGTON - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Wellington (all locations) | |||
| 1-Bedroom | $259,900 | $1,040 | 4.80% |
| 2-Bedroom | $386,000 | $1,350 | 4.20% |
| 3-Bedroom | $483,700 | $1,620 | 4.02% |
| Wellington (apartments) avg. Rental Yields | 4.34% | ||
| AUCKLAND - Houses/Townhouses | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Auckland (all locations) | |||
| 1-Bedroom | $395,200 | $1,100 | 3.34% |
| 2-Bedroom | $461,000 | $1,430 | 3.72% |
| 3-Bedroom | $518,700 | $1,660 | 3.84% |
| 4+Bedroom | $784,400 | $2,120 | 3.24% |
| Auckland (houses and townhouses) avg. Rental Yields | 3.54% | ||
| WELLINGTON - Houses/Townhouses | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Wellington (all locations) | |||
| 2-Bedroom | $347,300 | $1,400 | 4.84% |
| 3-Bedroom | $538,800 | $1,730 | 3.85% |
| 4+Bedroom | $747,100 | $2,770 | 4.45% |
| Wellington (houses and townhouses) avg. Rental Yields | 4.38% | ||
| CHRISTCHURCH - Houses/Townhouses | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Christchurch (all locations) | |||
| 2-Bedroom | $357,100 | $1,340 | 4.50% |
| 3-Bedroom | $461,000 | $1,700 | 4.43% |
| 4+Bedroom | $616,800 | $2,080 | 4.05% |
| Christchurch (houses and townhouses) avg. Rental Yields | 4.32% | ||
| All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents' fees, and any other costs. Net yields (what you'll really earn) are typically around 1.5% to 2% lower. Source: Global Property Guide and OneRoof |
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View the full rental yield dataset (2022 - Present)
Research Methodology:
Our rental yield analysis is conducted biannually to ensure up-to-date insights. We assess 1-bedroom, 2-bedroom, and 3-bedroom properties across the largest cities in New Zealand, comparing median rental prices with median purchase prices to determine gross rental yields.
We source data from a leading local property platform, capturing both asking rents and list prices to reflect current market conditions. The gross rental yield is calculated using the following formula:
(Median Monthly Rent × 12) ÷ Median Purchase Price × 100
For example, if the median monthly rent is $500 and the median purchase price is $100,000, the yield is calculated as:
($500 × 12) ÷ $100,000 = 6% Gross Rental Yield
Note: NET yields vary from country to country, but are usually 1.5-2% lower.
