Gross rental yields in New Zealand: Auckland and Wellington

  Last Updated: Aug. 30, 2023
AUCKLAND - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Auckland Central  
1-Bedroom $247,109 $1,163 5.65%
2-Bedroom $346,076 $1,534 5.32%
Auckland (all locations)  
1-Bedroom $333,396 $1,188 4.28%
2-Bedroom $432,363 $1,682 4.67%
3-Bedroom $1,019,981 $2,078 2.44%
Auckland avg. Rental Yields 4.47%
WELLINGTON - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Wellington (all locations)  
1-Bedroom $363,395 $1,225 4.05%
2-Bedroom $479,372 $1,633 4.09%
3-Bedroom $481,847 $1,905 4.74%
Wellington avg. Rental Yields 4.29%
CHRISTCHURCH - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Christchurch (all locations)  
2-Bedroom $369,271 $1,311 4.26%
3-Bedroom $446,899 $1,540 4.14%
4+Bedroom $534,887 $1,979 4.44%
Christchurch avg. Rental Yields 4.28%
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

Research Methodology: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in the largest cities of New Zealand. We used the local website for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).

For instance, if the monthly rent is $500 and the purchase price is $100,000, the calculation would be: $500 (Monthly Rent) x 12 / $100,000 (Purchase Price) = 6% (Gross Rental Yield).