Bounce in rental activity follows April holiday lull

Rental activity picked up again in May following April’s lull, carrying some, but not all, of the market’s early 2026 momentum into the cooler months of the year.

Data showed an increase in almost every activity measure in May, compared with April and year-on-year. However, many metrics remained shy of the previous three-month average, a period that captured the market’s most recent peaks.

May saw a return to regular programming for many households that had been juggling school holidays and long weekend breaks throughout April. We also saw a corresponding bounce back in renter engagement.

Enquiries about properties for rent rose back above 26,500, up 8.8% on April and 29.5% on May last year, and with more property viewings able to be hosted in May, attendance increased 10.6% over April.

However, when compared to the previous three-month average, enquiries were down 11.3% and attendance at viewings was down 8.8%.

A total of 642 properties were let, up 2.6% year-on-year, and May closed with 696 properties available, on par with recent months.

Despite recent market momentum, renters continue to have a good level of choice in most areas, which is supported by ongoing price stability.

For landlords, May’s activity continues to reinforce the value of getting the fundamentals right, especially this time of year when both the temperature and demand can cool.

Well-presented and winter-ready homes that are priced sensibly are attracting interest and renting without long delays. Where listings miss the mark, renters simply wait for something that better suits their needs and their budgets.

Three-bedroom homes, and properties with parking or garaging, were typically performing best.

In Auckland, the average weekly rent was $697.42, up just $1.13 on April and holding at an increase of 0.8% year-on-year. 

By area, the North Shore saw the strongest movement, with average rents up 1.7%, potentially influenced by a greater proportion of new-build listings there. The average rent for properties managed in each Northland and Bay of Plenty moved by 0.3% between April and May.