Rental prices in the Coromandel have fallen dramatically, offering rare relief for tenants after several years of tight supply and escalating costs.
New data from realestate.co.nz shows the Coromandel recorded the largest rental price drop in the country in December 2025, with average asking rents down 41 per cent year-on-year from December 2024 to $539 per week.
The decline comes as the national rental market begins to soften, driven by a sharp increase in available properties and easing demand in many regions.
There are currently 209 rental properties listed in the Coromandel on realestate.co.nz — a notable increase compared with recent years when long-term rentals were scarce and competition fierce.
A turning point after years of pressure
Historically, Coromandel rents surged during and after the COVID-19 period, fuelled by lifestyle migration, short-term accommodation demand, and limited housing supply. At times, weekly rents rivalled major urban centres despite lower local incomes, pushing many workers and families out of the market.
The latest figures suggest that pressure is now easing.
Across New Zealand, the national average weekly rent fell 2.4 per cent to $626 in December 2025. Thirteen of the country’s 19 regions recorded year-on-year declines, signalling a broad cooling in the rental market.
Coromandel’s drop was significantly steeper than other regions, with:
- Wellington down 8.4% to $663/week
- Hawke’s Bay down 7.5% to $614/week
More listings, more choice
The fall in prices has coincided with a surge in rental listings nationwide. New rental listings climbed 19.8 per cent year-on-year in December 2025, rising to 5,349 properties compared with 4,464 a year earlier.
Total national rental stock reached 7,577 properties, up 15.9 per cent from December 2024, giving renters greater choice and increased negotiating power.
While Wellington recorded a 91.5 per cent increase in stock to 925 properties, the Coromandel’s growing pool of available rentals suggests similar dynamics are at play locally, with more landlords competing for tenants.
A tale of two rental markets
The easing seen in Coromandel stands in stark contrast to premium lifestyle markets elsewhere.
The Central Otago Lakes District remains the most expensive place to rent in New Zealand, with average weekly rents hitting a record $891 per week in December 2025 — more than $200 higher than any other region, including Auckland.
Vanessa Williams, spokesperson for realestate.co.nz, said the data highlights a growing divide in the national rental market.
“New Zealand’s rental landscape is starting to show a clearer split between premium lifestyle markets and the rest of the country,” she said.
“Central Otago/Lakes District continues to sit in a league of its own, driven by strong demand and a limited pool of rentals which is pushing prices to record highs.”
Williams noted that as rents approach mortgage repayment levels in high-cost areas, more renters are choosing to buy, a trend already evident in places like Queenstown.
What it means for 2026
For Coromandel renters, the combination of falling prices and increased stock may signal a more balanced market heading into 2026 — particularly for local workers who have struggled to secure long-term housing in recent years.
Williams said the nationwide lift in listings is giving renters more leverage.
“With stock building and competition among landlords rising, renters will continue to find themselves in a stronger position to negotiate on price or lease terms in 2026,” she said.
Whether the Coromandel’s sharp correction represents a long-term reset or a temporary adjustment remains to be seen. However, after years of relentless pressure, the latest data suggests some breathing room for the region’s renters.
