Source: Property Brokers
With less than a month until the 1 July 2025 Healthy Homes Standards deadline, the latest Regional Rental Report from Property Brokers reveals a pressing reality: New Zealand’s rental housing stock is ageing – and fast.
According to the report, the average rental property managed by Property Brokers was built in 1968. In some regions, homes dating back to the 1940s are still actively rented. David Faulkner, General Manager of Property Management for Property Brokers, says this presents both a challenge and an opportunity for landlords.
“We manage a significant proportion of older homes, and retrofitting them to meet compliance is now more urgent than ever,” says Faulkner. “But compliance isn’t just a box to tick – it’s a chance to add long-term value. A warm, dry, well-ventilated home is more attractive to tenants, encourages longer stays, and can command better returns.”
The Regional Rental Report – co-authored by Professor Graham Squires of The Property Knowledge – draws on a sample of over 8,000 active rental properties across regional New Zealand. It highlights the mismatch between modern compliance standards and an ageing housing stock.
“It’s often assumed that renters live in older homes, and this data confirms that assumption,” says Professor Squires. “However, there’s a wider conversation to be had about housing supply, regional development, and the economic viability of upgrading versus rebuilding. Older homes still dominate much of the rental market, particularly outside the major metros.”
Key insights from the report include:
– Papamoa leads with the highest average rent at $697 per week, with stock averaging from 1997.
– Rolleston and the Selwyn District have the youngest rental stock, due to Christchurch’s post-earthquake rebuild.
– Dunedin and Oamaru feature the oldest active rentals, averaging from the mid-20th century.
– Newer homes like those in Rolleston have shorter average tenancy lengths (16 months), while older homes in places like
Carterton show longer tenancies, despite the age of the stock.
Faulkner says the Healthy Homes deadline has brought long-overdue attention to housing quality.
“The cost of non-compliance – from fines to lost income – is far greater than the cost of doing it right. We’re actively working with landlords to meet the standard and future-proof their investments,” he says.
Squires adds that evolving tenancy tr
