Gross rental yields in New Zealand: Auckland and 2 other cities
The average gross rental yield in New Zealand stands at 4.21% (2024, Q4). Previously, in Q2 2024 the rental yield was 4.27%.
Prices are shown in US$.
Cities compared
- Auckland
- Wellington
- Christchurch
Historical rental yields in New Zealand
View the full rental yield dataset (2022 - Present)
| Last Updated: Dec 12, 2024 Next Update: Jun. 2025 |
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| AUCKLAND - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Auckland Central | |||
| 1-Bedroom | $216,730 | $1,057 | 5.85% |
| 2-Bedroom | $316,578 | $1,362 | 5.16% |
| Auckland (all locations) | |||
| 1-Bedroom | $293,085 | $1,175 | 4.81% |
| 2-Bedroom | $375,313 | $1,480 | 4.73% |
| 3-Bedroom | $634,332 | $1,832 | 3.47% |
| Auckland (apartments) avg. Rental Yields | 4.34% | ||
| WELLINGTON - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Wellington (all locations) | |||
| 1-Bedroom | $267,241 | $940 | 4.22% |
| 2-Bedroom | $381,774 | $1,456 | 4.58% |
| 3-Bedroom | $525,673 | $1,832 | 4.18% |
| Wellington (apartments) avg. Rental Yields | 4.33% | ||
| AUCKLAND - Houses/Townhouses | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Auckland (all locations) | |||
| 1-Bedroom | $402,331 | $1,163 | 3.47% |
| 2-Bedroom | $469,876 | $1,480 | 3.78% |
| 3-Bedroom | $540,718 | $1,739 | 3.86% |
| 4+Bedroom | $831,076 | $2,278 | 3.29% |
| Auckland (houses and townhouses) avg. Rental Yields | 3.60% | ||
| WELLINGTON - Houses/Townhouses | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Wellington (all locations) | |||
| 2-Bedroom | $381,186 | $1,409 | 4.44% |
| 3-Bedroom | $516,569 | $1,773 | 4.12% |
| 4+Bedroom | $759,143 | $2,725 | 4.31% |
| Wellington (houses and townhouses) avg. Rental Yields | 4.29% | ||
| CHRISTCHURCH - Houses/Townhouses | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Christchurch (all locations) | |||
| 2-Bedroom | $363,566 | $1,410 | 4.65% |
| 3-Bedroom | $469,288 | $1,762 | 4.51% |
| 4+Bedroom | $596,155 | $2,185 | 4.40% |
| Christchurch (houses and townhouses) avg. Rental Yields | 4.52% | ||
| 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, 3-bedroom 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.