Wellington Rent Update for Q3 2026: July Snapshot and Annual Trend
The latest monthly bond data for Wellington City shows a median weekly rent of $595 in August 2026. The rolling-year figures below cover an earlier period. Wellington City's all-dwelling median was $595 in the year to 31 August 2026, down from $600, with 11,373 bonds lodged compared with 11,511.
Self-managing your rentals?
Open the prefilled sample account with fictional rental records. No signup or setup is needed.
Updated 9 October 2026: an incomplete import had left April 2026 as the last complete period. This annual series now uses MBIE's latest complete rolling 12-month release, ending 31 August 2026. The July monthly median is separate; the table compares annual lodged rents with the year ending 31 August 2025.
The complete annual picture
The all-dwelling median was $595, compared with $600 a year earlier. Bond counts are new tenancies lodged over each rolling-year period.
| Bedroom and type | Year to August 2026 | Year to August 2025 | Bonds lodged |
|---|---|---|---|
| Wellington City | $595 | $600 | 11,373 vs 11,511 |
| Bedroom and type | Year to August 2026 | Year to August 2025 | Bonds lodged |
|---|---|---|---|
| 1-bed Apartment | $450 | $460 | 1,242 |
| 2-bed House | $600 | $610 | 861 |
| 3-bed House | $720 | $730 | 1,554 |
| 4-bed House | $875 | $895 | 738 |
What tenants pay and landlords ask
The official medians describe rents agreed when bonds were lodged. Asking rents are a separate sample of priced listings. The gap is the bond median minus the listing median; four-bedroom asking prices are excluded because negotiation-only ads skew that sample.
| Bedroom | MBIE bond median | Asking median | Gap | Priced listings |
|---|---|---|---|---|
| 1-bed Apartment | $450 | $443 | +$7 | 1,078 |
| 2-bed House | $600 | $590 | +$10 | 1,229 |
| 3-bed House | $720 | $690 | +$30 | 1,372 |
Across these three bedrooms, the numbers are close in some segments and farther apart in others. This is a comparison between an annual bond series and a listing snapshot, not a claim that each asking price becomes the agreed rent.
Highest and most affordable three-bedroom house groupings
Three-bedroom house values from MBIE suburb groupings, with at least 25 bonds in each group.
| Area grouping | Median per week | Bonds |
|---|---|---|
| Highest: Breaker Bay / Karaka Bays / Pipitea / Roseneath grouping | $825 | 21 |
| Highest: Churton Park / Kelburn / Oriental Bay / Seatoun grouping | $795 | 105 |
| Highest: Strathmore Park / Te Aro grouping | $780 | 42 |
| More affordable: Crofton Downs / Johnsonville / Kilbirnie / Vogeltown grouping | $680 | 195 |
| More affordable: Glenside / Kingston / Newlands / Rongotai grouping | $680 | 120 |
| More affordable: Berhampore / Paparangi / Tawa / Thorndon / Wilton grouping | $695 | 201 |
These MBIE group labels cover several neighbourhoods and are not single-suburb estimates. Each group shown had at least 25 lodged bonds.
Main centres and the highest-rent territorial authorities
| Territorial authority | Median per week |
|---|---|
| Queenstown-Lakes | $780 |
| Tauranga | $700 |
| Auckland | $650 |
| Wellington City | $595 |
| Lower Hutt City | $590 |
| Christchurch City | $550 |
What changed, and whose market is it?
Wellington City's all-dwelling median eased from $600 to $595, down 0.8%. Bonds lodged fell from 11,511 to 11,373, down 1.2%, a small reduction in tenancy turnover. The one-bedroom apartment median eased $10, two-bedroom houses eased $10, three-bedroom houses eased $10, and four-bedroom houses eased $20.
Verdict: This is a balanced market with a mild easing signal. Citywide and bedroom-level medians edged down, bond turnover was slightly lower, and one to three-bedroom lodged medians remain close to asking medians. Compare the specific home and its condition before making a rent decision.
Two ways RentManager helps
Landlords: For Wellington houses, compare the home's condition, location and listing competition before setting a rent. The annual bond measure describes signed tenancies over twelve months, while the available asking sample ends in June. RentManager helps you keep compliance, notice and tax tasks in one place and prepare a listing if you re-let. Start free or see the live demo.
Tenants: Use the asking figures as a dated comparison, then check current homes near you. You can prepare a free rental profile at apply.rentmanager.nz.
About this data
MBIE medians cover the rolling years ending 31 August 2026 and 31 August 2025. The separate monthly snapshot is for July 2026. One-bedroom rents use apartments only because the MBIE one-bedroom house category has a known classification artefact. TradeMe asking medians use priced rentals observed from 6 June 2025 through the latest available observation, 6 June 2026; they are not a current September sample. Asking sample counts are shown in the table. Suburb labels combine multiple neighbourhoods. Tenancy Services / MBIE rental bond data.
Quick question - are you reading this as a:
Written from my own experience running rentals in New Zealand. It is general information to help you understand your options, not legal, tax, or financial advice, and RentManager is not your lawyer or accountant. Rules change and every tenancy is different - check your own situation with Tenancy Services, the IRD, or a professional before you act on it.