Students moving to the capital for the start of the academic year are spoilt for choice when it comes to finding a rental property. In January, Wellington reached a record high of 965 properties listed for rent, a whopping 54.2% more rental listings than the same time last year.
However, students heading south face a much tighter rental market.
Otago’s new rental listings were down 32.9% year-on-year, with just 139 properties listed for rent this January, compared to 207 in January 2025.
Meanwhile, Canterbury offered students more choice with 892 new rental listings in January 2026, an increase of 16.9% on same time last year.
Vanessa Williams, spokesperson for realestate.co.nz says, the data shows just how important timing and location are for student renters.
“For students heading back to campus, where you study has a big impact on your rental experience. Wellington renters are spoilt for choice this year, while those moving to Otago will need to be organised and act quickly in a far more competitive market. It’s very much a tale of two cities.”
A little more left in the pocket as average weekly rents fall
Students in Wellington may also find they have more in their bank accounts – average weekly rents have fallen 8.9% year-on-year to $659/week, although this remains above the national average rental price of $634/week.
Renters in Auckland are also paying above the national average rent, with the average rent in the City of Sails at $686/week, down just 1.8% on January 2025.
The average weekly rent has fallen in Otago (down 4.1% year-on-year to $519/week in January 2026) and stayed flat in Waikato (down 0.3% year-on-year to $556/week). Canterbury is the only university region to record an increase in average weekly rental prices in January, up 1.2% to $584/week.
Williams says these year-on-year declines suggest landlords in some regions are having to be more competitive on price, particularly where supply has lifted.
“We’re seeing rental markets behave very differently across the country. For student renters, these figures underline how local supply conditions shape affordability. More choice gives renters leverage, but in markets where supply hasn’t lifted, prices remain resilient.”
Which regions are seeing a rise in rental stock?
National rental stock increased 9.8% in January 2026, with 7,830 rental properties available compared to 7,129 properties in January 2025.
Hawke’s Bay recorded the greatest year-on-year increase in stock levels, up 115.8% compared to January 2025 to 123 properties. Wairarapa also recorded a significant increase in stock levels, up 97.3% year-on-year to 73 properties, while Gisborne recorded the third highest year-on-year increase in stock levels in January 2026, up 56.4% year-on-year to 61 properties.
Williams says the lift in rental stock nationally is an encouraging sign of activity in the market.
“Overall, this is a rental market offering very different experiences depending on where renters are studying or relocating. For those who have flexibility around location, there are real opportunities emerging, but in tighter markets, preparation and speed remain key. Understanding local conditions has never been more important.”
For media enquiries, please contact:
Hannah Franklin | hannah@realestate.co.nz
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