Wellington Rental Market Report.

Why suburb matters more than the citywide average

"Wellington's average rent" is a headline figure, not something you can actually price a property against. Demand, tenant type and stock levels vary enormously between suburbs — often street to street. A one-bedroom near the CBD or the universities competes for a completely different tenant pool than a family home in the Hutt Valley.

Indicative weekly rents by area

These are indicative starting points we use in our own pricing model, based on typical two-bedroom properties — your actual figure depends on condition, size, parking and exact location. Use our free instant appraisal tool on the Landlords page for a property-specific estimate.

• Oriental Bay: ~$880/wk — premium waterfront, consistently high demand
• Mount Victoria / Kelburn / Thorndon: ~$760–770/wk — inner-city, strong tenant demand, close to CBD and universities
• Te Aro / Wellington Central: ~$700–720/wk — high turnover, strong demand from students and young professionals
• Karori / Northland / Hataitai / Miramar: ~$700/wk — family-friendly, steady demand
• Newtown / Berhampore / Brooklyn: ~$650–690/wk — good value, growing popularity
• Johnsonville / Tawa / Newlands: ~$630–640/wk — northern suburbs, commuter-friendly
• Lower Hutt / Petone / Porirua: ~$560–620/wk — wider region, generally lower entry point

What's driving demand

Wellington's rental demand is shaped heavily by its universities (Victoria University and Massey's Wellington campus), central government employment, and a compact CBD that keeps commute times short. Suburbs close to both employment and transport links tend to see the most consistent demand and the fastest lease-up times.

How we use this data

Every property we manage is priced against live comparable listings and recent actual lettings in its specific suburb — not a static average. We revisit pricing at every rent review using the same approach, so you're never leaving money on the table or pricing yourself out of the market.