Wellington Rent Update for Q3 2026: July Snapshot and Annual Trend
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The latest monthly bond data for Wellington City shows a median weekly rent of $560 in July 2026. The rolling-year figures below cover an earlier period. The latest complete rolling-year median, to April 2026, was $600, down from $635 a year earlier, with 3,327 bonds lodged.
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The July monthly MBIE bond file gives the newest city-level snapshot. That figure covers bonds lodged in one month. The bedroom breakdown below uses the latest complete rolling 12-month data for Wellington City, ending 30 April 2026.
The complete annual picture
The all-dwelling median was $600, compared with $635 a year earlier. Bond counts are new tenancies lodged over each rolling-year period.
| Bedroom and type | Year to April 2026 | Year to April 2025 | Bonds lodged |
|---|---|---|---|
| Wellington City | $600 | $635 | 3,327 vs 3,492 |
| Bedroom and type | Year to April 2026 | Year to April 2025 | Bonds lodged |
|---|---|---|---|
| 1-bed Apartment | $430 | $475 | 366 |
| 2-bed House | $600 | $630 | 207 |
| 3-bed House | $750 | $750 | 429 |
| 4-bed House | $920 | $900 | 246 |
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 | $430 | $443 | -$13 | 1,078 |
| 2-bed House | $600 | $590 | +$10 | 1,229 |
| 3-bed House | $750 | $690 | +$60 | 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: Grenada Village / Hataitai / Newtown grouping | $765 | 42 |
| Highest: Churton Park / Kelburn / Seatoun grouping | $750 | 36 |
| Highest: Island Bay / Mount Victoria / Northland grouping | $750 | 39 |
| More affordable: Glenside / Newlands / Rongotai grouping | $685 | 33 |
| More affordable: Brooklyn / Miramar / Wadestown grouping | $700 | 54 |
| More affordable: Crofton Downs / Johnsonville / Kilbirnie grouping | $705 | 51 |
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 | $710 |
| Auckland | $635 |
| Wellington City | $600 |
| Lower Hutt City | $595 |
| Christchurch City | $550 |
What changed, and whose market is it?
Wellington City's all-dwelling annual median fell from $635 to $600, down 5.5%. Bond lodgements declined from 3,492 to 3,327, down 4.7%, pointing to slightly less tenancy turnover. One-bedroom apartment rents fell $45 and two-bedroom house rents fell $30. Three-bedroom house rents were flat; the four-bedroom median rose $20 from a lower sample.
Verdict: This is an easing market, but the signals do not point to a broad tenant's market: both rents and bond turnover fell. The latest listing snapshot is below the annual bond median for two and three-bedroom homes, with the widest gap on three-bedroom houses. Tenants can use comparable current listings in a renewal discussion; landlords should price against the property and the live competition rather than the higher annual median alone.
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
The full-year MBIE values are medians for bonds lodged in the year to 30 April 2026 and the year to 30 April 2025. July's separate monthly figure is not directly comparable with that rolling-year series. Asking rents are medians from RentManager's priced TradeMe rental snapshot; the latest listing observation available is 6 June 2026, not September. One-bedroom rents use apartments only because the MBIE one-bedroom house category has a known classification artefact. Suburb labels combine multiple neighbourhoods. The four-bedroom asking sample is excluded because negotiation-only listings make it unreliable. Tenancy Services / MBIE rental bond data.
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.