July 2025 – Auckland Rental Market Update
July Market Update: Milestones, Valuations, and Market Shifts
July was a month of milestones and movement for property owners across New Zealand. From the long-awaited completion of Healthy Homes compliance to fresh council valuations and a changing rental market, there’s plenty to unpack.
Healthy Homes: A Major Milestone for Every Rental Property
After five years of upgrades, inspections, and adjustments, Healthy Homes compliance is now complete. Every rental property in New Zealand must now meet the minimum housing standards — a huge achievement for owners, tenants, and managers alike.
To all our property owners, thank you for navigating the extra costs, decisions, and sometimes tricky logistics. And to our tenants, a heartfelt thank you for your patience, access, communication, and input throughout the process. Coordinating assessments, trades, and follow-ups across so many homes has been no small task — it’s truly been a team effort.
Together, you’ve helped lift the standard of rental housing across Aotearoa, creating warmer, drier, and healthier homes for thousands of people.
Council Valuations Are Out — What Do They Really Mean?
After a long wait, Auckland Council valuations have finally landed. Find yours here. And the reactions? A mix of surprise, frustration, and quiet relief.
For long-term holders, a lower CV may come with a silver lining — potentially a smaller rates bill. But for those who’ve purchased recently or are refinancing, a CV that’s below your purchase price can feel discouraging. It’s unfamiliar territory for many Auckland investors who’ve grown used to rising valuations.
From my own recent refinancing experience, I learnt that banks use registered valuations (RVs) over council CVs — even when CVs were 25–30 percent lower. It’s a reminder that CVs are not the value of your property. They aren’t based on someone inspecting your property, and they often miss the nuances that create real-world market value.
Busting myths: rates and property valuation
Money Hub: Understand Rateable Value
Auckland property owners face rate hikes despite CV declines
The Letting Market: Tenants Are Taking Their Time
The rental market remains tight — quality tenants are in high demand. Tenants are more selective, negotiating harder, and expecting higher standards of presentation and service.
We’ve adjusted how we work to meet that shift by:
- Capturing and holding onto great tenant leads
- Speeding up placements
- Focusing on tenant experience — because great tenants want to feel valued
And it’s paying off:
- 84 percent of tenants rated their experience with us 7 / 10 or higher last quarter (up from 78 percent)
- 93 percent of new tenants** rated us 7 / 10 or above**
These results show that our focus on communication, property presentation, and onboarding is making a measurable difference — helping owners secure and keep great tenants faster in a competitive market.
Wrapping Up
From compliance wins to market adjustments, July was a strong reminder that great property management is about staying adaptable. Thank you again for your continued trust and support — it’s what makes our work at Wendell Property so rewarding.
Here’s to the months ahead.
– Natalie & the Wendell Property team
PS – these are worth a read this month!
Auckland rent growth hits pause: what serious investors should do next