Gross rental yields in New Zealand: Auckland and 2 other cities
The average gross rental yield in New Zealand stands at 3.99% (2025, Q3). Previously, in Q4 2024, the rental yield was 4.21%.
Prices are shown in US$.
Cities compared
- Auckland
- Wellington
- Christchurch
Historical rental yields in New Zealand
View the full rental yield dataset (2022 - Present)
| Last Updated: July 04, 2025 Next Update: December 2025 |
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| AUCKLAND - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Auckland Central | |||
| 1-Bedroom | $216,500 | $1,085 | 6.01% |
| 2-Bedroom | $319,000 | $1,445 | 5.44% |
| Auckland (all locations) | |||
| 1-Bedroom | $300,900 | $1,120 | 4.47% |
| 2-Bedroom | $402,600 | $1,495 | 4.46% |
| 3-Bedroom | $699,000 | $1,880 | 3.23% |
| Auckland (apartments) avg. Rental Yields | 4.05% | ||
| WELLINGTON - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Wellington (all locations) | |||
| 1-Bedroom | $268,400 | $1,040 | 4.65% |
| 2-Bedroom | $413,100 | $1,325 | 3.85% |
| 3-Bedroom | $512,000 | $1,605 | 3.76% |
| Wellington (apartments) avg. Rental Yields | 4.08% | ||
| AUCKLAND - Houses/Townhouses | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Auckland (all locations) | |||
| 1-Bedroom | $413,100 | $1,100 | 3.20% |
| 2-Bedroom | $475,800 | $1,545 | 3.90% |
| 3-Bedroom | $548,800 | $1,810 | 3.96% |
| 4+Bedroom | $814,200 | $2,365 | 3.49% |
| Auckland (houses and townhouses) avg. Rental Yields | 3.63% | ||
| WELLINGTON - Houses/Townhouses | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Wellington (all locations) | |||
| 2-Bedroom | $415,800 | $1,605 | 4.63% |
| 3-Bedroom | $530,100 | $1,750 | 3.96% |
| 4+Bedroom | $708,000 | $2,170 | 3.68% |
| Wellington (houses and townhouses) avg. Rental Yields | 4.09% | ||
| CHRISTCHURCH - Houses/Townhouses | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Christchurch (all locations) | |||
| 2-Bedroom | $375,100 | $1,450 | 4.64% |
| 3-Bedroom | $500,000 | $1,810 | 4.34% |
| 4+Bedroom | $680,900 | $1,880 | 3.31% |
| Christchurch (houses and townhouses) avg. Rental Yields | 4.10% | ||
| 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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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.