Rental market ends 2025 with busiest December in years

The rental market picked up some pace at the end of 2025, with Barfoot & Thompson recording its busiest December in years across its branches in Auckland, Northland and Bay of Plenty.

"December delivered a stronger than anticipated finish to an otherwise subdued year in the rental market," says Anil Anna, General Manager Property Management for Barfoot & Thompson.

"Enquiries on our listings reached 22,425 during the month, the highest since December 2020 and up 31.9% on December 2024."

The number of groups shown through properties at viewings also increased, up 13.8% year-on-year, even though fewer viewings were hosted during the month.

Applications received during the month increased alongside this, up 14.4% on December 2024, but at 2830 were still below the 4000+ experienced in each December between 2020 and 2023.

"As a result, we rented 598 properties during December, up 9.3% on December 2024 and the highest for any December in at least the past five years."

"While things normally slow down ahead of the holiday period, this year we saw strong levels of interest well into the month of December, including right up to Christmas and between the statutory holidays in some areas, from renters who were focused and decisive in their searches."

"Notable in most areas was the number of young families looking to secure a tenancy before Christmas, or lock one in for the New Year. Many were seeking properties within their chosen school zones, ready for the 2026 Term One start."

In the Auckland city centre, however, he says the increased enquiries were primarily from tertiary students just beginning their search for accommodation for February onwards: "There is currently plenty of stock in the CBD apartment market, and therefore choice for renters, as we head into the busier January and February period there."

Despite the lift in activity, rent prices remained steady as the year closed, continuing the trend of almost flat pricing seen throughout 2025.

"Competitive pricing and presentation remains key to attracting renter interest in the current market," says Anil, noting around 40% of properties rented during December required a reduction from the original listing price before securing a tenancy.

In Auckland, where the agency manages more than 17,500 properties, the average weekly rent sat at $696.19 at the end of December, broadly unchanged from November's average of $696.33, but up $5.55 or 0.8% on December 2024's average of $690.64.

By size, three‑bedroom homes continued to lead the Auckland market's pace as the most common and generally popular rental type across the city. Average rents for this property type were $700.21 per week in December, up 1.2% year‑on‑year – the same rate of change recorded in November.

The average weekly rent for a property of any size rose most in the Rodney and North Shore areas, both by 1.9% year‑on‑year, reaching averages of $710.84 and $740.97 per week respectively.

Branches in Northland and Bay of Plenty recorded similar steady movement in overall pricing trends, moving by 0.2% and 0.5% respectively between November and December 2025.