19/06/2025
The Current Rental Market – What’s Going On in Auckland’s North Shore and Hibiscus Coast?
* It’s taking longer to secure quality tenants.
* The market has shifted from a landlord's market to a tenant's market.
* Presentation, pricing, and incentives matter more than ever.
* Owners must adapt to changing conditions to avoid extended vacancy.
If you’ve had a property available for rent recently, it’s probably no surprise that securing a great tenant is taking longer than it has in years. So, what’s behind the change?
After more than two decades in the industry, the best analogy I can offer is a good old-fashioned seesaw. For years, the market tipped in favour of landlords. Now, the weight has shifted.
Looking back over the past 20 years, we’ve seen rent increases come in waves - periods of stagnation followed by growth. However, over the last seven years, most landlords have enjoyed consistent annual rent increases. This was driven by factors such as high net migration, a lack of new housing supply, regional-to-urban relocations, rising property values, and increasing operating costs.
But 2025 is telling a different story. We’re now seeing a genuine tenants' market - som**hing we haven’t experienced for quite some time.
Why the shift?
There are several contributing factors:
* Reduced immigration – Net migration in April 2025 was just 125 people across the entire country.
* Cost of living pressures – Many tenants are choosing to stay put or are downsizing to reduce expenses.
* More rental supply – Some homeowners are relocating but holding onto their properties, adding to the number of available rentals.
What does this mean for property owners?
Tenants now have options—and they’re being selective. Simply listing a property is no longer enough. To compete effectively in this environment, you need to ensure your home presents well and offers value.
Here are some practical steps to stand out:
* Start with the basics: The property should be clean, dry, and well maintained.
* Refresh tired areas: Repaint walls that haven’t been touched in a decade, replace dated curtains, and tidy up the garden.
* Tackle dampness: If moisture or mould is an issue, consider installing a ventilation system such as SmartVent or similar.
* Quality photos matter: Make sure your online listing reflects the best version of your property.
* Consider an incentive: A week’s free rent or a move-in bonus can help attract attention.
Review the rent: If enquiry levels are low, your price may not reflect the current market. A slight adjustment could make the difference between weeks of vacancy and securing a reliable tenant.
The market conditions have changed, but there’s still strong demand for well-presented, appropriately priced homes. Owners who are willing to adapt will continue to find great tenants - just with a bit more effort and care than before.