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
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

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.

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