Market rent is described in the Residential Tenancies Act as the rent amount a willing landlord might reasonably expect to receive, and a willing tenant might reasonably expect to pay, for a tenancy. It needs to be similar to the rent charged for similar properties in similar areas.
Market rent is a useful guide for landlords when they’re deciding what the rent will be. Note that if a landlord charges significantly higher rent than the market rent, a tenant can apply to the Tenancy Tribunal asking for the rent to be reduced.
Copyright, disclaimer and use of market rent data
Market Rent data is Crown copyright and licensed under a Creative Commons Attribution 3.0 New Zealand License(external link).
Please include or provide a link to the explanatory information below if you reproduce or publish this data.
Market rent explanatory information
Market rent statistics are derived from information gathered from bonds lodged with Tenancy Services. The results may not be a true indication of the rental market, because they only reflect properties where bonds are lodged.
Any category that has less than five bonds lodged has been excluded, to prevent individual properties being identified. However, the totals include any excluded items, so that the categories shown may not add up to the total in the ‘all’ category.
The market rent regions are based on Statistical Area Units from the 2001 Census. They have been grouped together based on Area Units with similar weekly rentals that are next to one another to meet user requirements. Note that the regions are not an exact match to the Census Statistical Area Units.
The data has been produced to show recent market rents for non-government owned properties for which Tenancy Services holds information. It should not be used to determine the market rent of any property or for any other purpose except as an indication of the non-government rental market based on bonds lodged with Tenancy Services.
Finding old market rent statistics
If you want historical market rent data for a particular area, there is a selection of raw rental bond data available on the Ministry of Business Innovation and Employment website(external link) which you can use for your own analysis free of charge.
Disclaimer and use of data
Tenancy Services accepts no liability for use of this data other than for the purpose referred to above, nor does it accept liability for errors whether or not due to negligence on the part of Tenancy Services or its employees.