As one of Wellington’s premier property management companies, Taylor Property Plus is committed to keeping our landlords informed and ahead of the curve.
In this latest post aimed at helping landlords to gain a better understanding of the current landscape, we’ll dive into the current state of Wellington’s rental market, providing you with valuable insights and strategies to maximise your investment.
Of course, as a leading Property Management company, we’re also on hand to provide services that property investors and individual landlords might not be able to deliver themselves, so don’t hesitate to reach out for support if you are struggling to maximise your potential returns from your investment property.
Make sure you keep an eye on our blog where we provide regular tips for landlords, tenants and property managers as well as providing market insights to help people make more informed decisions about property in Wellington.
Table of Contents
Current Market Overview
Wellington’s rental landscape has undergone significant changes in recent months. As of March 2025, the average weekly rent in the Wellington region stands at $673, down 8% compared to the previous year. This shift presents both challenges and opportunities for landlords.
In a recent report by CoreLogic, despite a drop in the average value of houses in Northland, data for February showed that prices were up on the Kapiti Coast by 0.3% and up by 0.5% in Upper Hutt with economist Kelvin Davidson noting, “Wellington still faces some economic challenges in the near term, given the restraint on public sector expenditure. But housing affordability across the capital is far less stretched than it was two to three years ago, which is likely to have played a role in helping bring some buyers back to the table in February.”
Rent Prices and Trends
While we’ve seen a slight decrease in average rents, Wellington remains one of the most expensive rental markets in New Zealand. Here’s a breakdown of current prices:
- Two-bedroom apartments: $595 – $650 per week
- Three-bedroom houses: $680 – $695 per week
It’s important to note that these figures can vary depending on the specific suburb and property type. At Taylor Property Plus, we conduct thorough market analyses to ensure your property is priced competitively.
Make sure you check out all our latest listings to discover your perfect home in and around Wellington.
Vacancy Rates and Supply
The Wellington rental market is currently experiencing an oversupply of homes. As of early 2025, there were 1,383 homes available for rent in Wellington, compared to a 5-year average of just 999. This increased inventory has led to longer vacancy periods and more negotiating power for tenants.
Strategies for Success
Given the current market conditions, landlords need to adapt their strategies to remain competitive. Here are some tips from the Taylor Property Plus team:
- Optimise Your Pricing: With increased supply, pricing your property correctly is crucial. Our team uses up-to-date market data to help you set the right rent and ensure you attract the right residential tenancy.
- Enhance Property Presentation: In a tenant’s market, properties that stand out get rented faster. Consider minor upgrades or professional staging to make your property more attractive. Property maintenance is a crucial part of both attracting new tenants and retaining existing tenants, so this is something to keep on top of.
- Flexible Lease Terms: Offering flexible lease terms can attract a wider pool of tenants, especially in the current market where tenant demographics are shifting.
- Prioritise Tenant Retention: With the market favouring tenants, focus on keeping good quality tenants happy. Prompt maintenance and open communication can go a long way. Ensuring Healthy Homes compliance is also important in the current rental market.
- Professional Property Management: In challenging markets, professional management can make all the difference. At Taylor Property Plus, we handle everything from marketing to tenant screening, ensuring your property performs at its best by delivering a wide range of tenancy services.
Looking Ahead
While the current market presents challenges, it’s important to remember that real estate is a long-term investment. Wellington’s strong economy and desirable lifestyle continue to attract residents, which bodes well for the rental market’s future.
At Taylor Property Plus, we’re committed to helping you navigate these market shifts. Our team of experts is always available to provide personalised advice and top-notch property management services.
Stay tuned for our next blog post, where we’ll delve deeper into strategies for reducing vacancy periods in the current market. In the meantime, if you have any questions about your rental property or our services, don’t hesitate to reach out. Let’s work together to make your Wellington property investment a success!
