Gross rental yields in New Zealand: Auckland and 2 other cities
The average gross rental yield in New Zealand stands at 4.24% (2026, Q3). Previously, in Q1 2026, the rental yield was 4.12%.
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 | $208,700 | $1,120 | 6.44% |
| 2-Bedroom | $294,000 | $1,390 | 5.67% |
| Auckland (all locations) | |||
| 1-Bedroom | $279,300 | $1,165 | 5.01% |
| 2-Bedroom | $381,600 | $1,460 | 4.59% |
| 3-Bedroom | $658,600 | $1,790 | 3.26% |
| Auckland (apartments) avg. Rental Yields | 4.29% | ||
| WELLINGTON - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Wellington (all locations) | |||
| 1-Bedroom | $264,600 | $1,130 | 5.12% |
| 2-Bedroom | $349,900 | $1,400 | 4.80% |
| 3-Bedroom | $452,800 | $1,635 | 4.33% |
| Wellington (apartments) avg. Rental Yields | 4.75% | ||
| AUCKLAND - Houses/Townhouses | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Auckland (all locations) | |||
| 1-Bedroom | $311,700 | $1,130 | 4.35% |
| 2-Bedroom | $396,900 | $1,410 | 4.26% |
| 3-Bedroom | $520,400 | $1,645 | 3.79% |
| 4+Bedroom | $763,800 | $2,070 | 3.25% |
| Auckland (houses and townhouses) avg. Rental Yields | 3.91% | ||
| WELLINGTON - Houses/Townhouses | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Wellington (all locations) | |||
| 2-Bedroom | $352,200 | $1,410 | 4.80% |
| 3-Bedroom | $464,000 | $1,590 | 4.11% |
| 4+Bedroom | $617,400 | $2,035 | 3.96% |
| Wellington (houses and townhouses) avg. Rental Yields | 4.29% | ||
| CHRISTCHURCH - Houses/Townhouses | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Christchurch (all locations) | |||
| 2-Bedroom | $352,200 | $1,320 | 4.50% |
| 3-Bedroom | $516,900 | $1,620 | 3.76% |
| 4+Bedroom | $749,700 | $2,235 | 3.58% |
| Christchurch (houses and townhouses) avg. Rental Yields | 3.95% | ||
| 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 |
|||
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.
