November Auckland Market Update

Rates are shifting, granny-flat rules are in, pet laws change from 1 December, flood maps are live, and Auckland Council’s Plan Change 120 submissions are open.

Plus, we’re celebrating 16 years of Wendell, welcoming Sophie & Jamie back to the team, and rolling out tenant gifting just in time for Christmas.

Grab a coffee — she’s a biggie this month!

Interest rates & home-loan climate

Banks are competing hard in the fixed-rate space. One major lender has cut its 18-month fixed rate to around 4.45%, with 6- and 2-year rates also easing. 1News covers it here.

There’s also speculation about whether home-loan rates could eventually dip below 4% — read the discussion here.
Importantly, the Reserve Bank of New Zealand has another Official Cash Rate review on 26 November 2025, so we’ll soon know whether we’re in for further downward movement in 2026.

What this means for property owners:

Lower rates = more capacity for tenants — which helps occupancy and yield stability.
It may be a good time to review your fixed-rate strategy, especially across multiple properties.
While some rates have dipped, sub-4% lending is still unlikely in the short term — so a balanced approach remains sensible.

Market activity – are prices on the rise?

Recent data shows house prices are lifting across most regions, prompting the question — has a recovery begun? 1News explores it here.

For our owners, this is good news:

Capital growth is re-entering the conversation.
Vacancy levels remain low across the Wendell portfolio.
Buyer and tenant confidence continues to strengthen.

We’ll keep tracking these trends and share insights on what they mean heading into 2026.

Regulatory changes affecting housing & rentals

Granny-flat (minor dwelling) rules

The government has passed new legislation allowing small dwellings – up to around 70 m² – to be built without full consent, provided they meet the Building Code and site requirements.
Full story here.

Even with current borrowing costs, granny flats will work for many investors — especially as prefab options around $200K enter the market. They can add rental income and value flexibility; just check how your local council treats rates and infrastructure charges before you start planning.

Pet rules changing from 1 December 2025

From 1 December, the new Residential Tenancies Amendment Act will make it easier for tenants to have pets — while still protecting property owners.
Official announcement here.

Here’s what changes:

Landlords can request a pet bond of up to two weeks’ rent.
Tenants must apply for consent, and landlords can only decline on reasonable grounds.
Tenants remain fully liable for pet-related damage beyond fair wear and tear.

Our recommendation:
Please ensure you have pet cover included on your current insurance policy — and if not, arrange it soon.

At Wendell, we’ve been preparing for this for months:

Tenants apply first, and we assess whether the pet suits the property.
Once approved, a Tenancy Agreement amendment is signed and an additional 2 weeks’ bond is lodged.
Tenants are educated on their responsibilities and encouraged to secure their own pet insurance.

Your Property Manager already has strong checks in place to protect you and your property.

Flood risk & new mapping

A new national flood-hazard map has identified that more than 750,000 New Zealanders live in areas at risk of major flooding — a number expected to grow under climate-change projections. Full details here.

Why this matters for owners:

Flood exposure affects insurance premiums, maintenance planning, and long-term asset value.
We’re integrating these maps into our portfolio reviews — contact us if you’d like to check your property’s exposure level.

Auckland Unitary Plan – Plan Change 120 submissions now open

Last month, we mentioned Auckland Council’s proposed Plan Change 120, which aims to support more housing intensification and climate resilience.
Submissions opened today! This is a great opportunity for property owners to help shape Auckland’s housing future.

Make your submission here:
https://new.aucklandcouncil.govt.nz/en/plans-policies-bylaws-reports-projects/our-plans-strategies/unitary-plan/auckland-unitary-plan-modifications/proposed-plan-changes/pc-120-housing-intensification-resilience.html

Celebrations & Wendell team updates

Wendell turns 16! A huge thank-you to all our wonderful owners for being part of the journey.
We’re excited to welcome Sophie & Jamie back to the team — their return brings added energy and experience as we head into the busy summer season.
As always, thank you for your continued partnership. Your trust allows us to keep improving and innovating — from zero arrears to a growing, sustainable portfolio we’re proud to manage.

Thank you, as always, for your continued trust and partnership.
If you’d like to discuss any of these updates — from flood-risk checks to pet cover to Auckland planning changes — just reach out. We’re here to help you make the most of every opportunity.