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Long-term 5-year & 10-year New Zealand median weekly rent growth (nominal & real CPI-adjusted)
Ticker:
rent-long-term-growth • Observation Period: August 2026 (Period End: 2026-08-31) • Last Checked: 10 November 2026 • Creator: Andy PalliserAlso known as: MBIE Tenancy Services 5-year and 10-year nominal and real rental growth benchmark
Over the 10 years to August 2026, New Zealand's national median weekly rent rose +52.6% (+$205/wk, or +4.3%/yr) from $390/wk to $595/wk (+14.1% after CPI inflation). Over the past 5 years (from $510/wk), median rent rose +16.7% (+3.1%/yr) nominally and -5.0% in real terms.
Official dataMBIE Tenancy Services (August 2026): National median weekly rent = $595/wk (compared with $510/wk 5 years earlier and $390/wk 10 years earlier).
HLF calculation
10Y Nominal: ($595−$390)÷$390=+52.6% (+4.3%/yr) | 10Y Real (÷1.337 CPI): +14.1% (+1.3%/yr) | 5Y Nominal: +16.7% (+3.1%/yr) | 5Y Real (÷1.228 CPI): -5.0%HLF interpretationHLF market context: Comparing both nominal and inflation-adjusted (real) 5-year and 10-year rental growth provides a balanced benchmark for long-term property cashflow modelling and rent-vs-buy comparisons.
Cite as: HLF Pulse, Home Loan Factory. "Long-term 5-year & 10-year New Zealand median weekly rent growth (nominal & real CPI-adjusted)," August 2026. Derived by HLF from MBIE Tenancy Services — Rental Bond Data (Long-Term Series) & Stats NZ CPI. https://pulse-data.homeloanfactory.co.nz/rent-long-term-growth/ (checked 10 November 2026). CC BY 4.0.
Created by Andy Palliser
Creator of HLF Pulse
Mortgage & KiwiSaver Adviser · Home Loan Factory (Andrew Jonathan Palliser, FSP1004725) • Published by HLF (Home Loan Factory)
Data Dictionary Specification (4-Field Date Standard)
| Name | Long-term 5-year & 10-year New Zealand median weekly rent growth (nominal & real CPI-adjusted) |
|---|---|
| Ticker | rent-long-term-growth |
| Also known as | MBIE Tenancy Services 5-year and 10-year nominal and real rental growth benchmark |
| Creator & Publisher | Created by Andy Palliser (Andrew Jonathan Palliser, FSP1004725) • Published by HLF (Home Loan Factory) |
| Official source & series | MBIE Tenancy Services & Stats NZ CPI (MBIE Tenancy Services — Rental Bond Data (Long-Term Series) & Stats NZ CPI) • Series IDs: Tenancy Services Monthly Regional Bond CSV (5Y & 10Y Median Rent) |
| Frequency | Monthly |
| 1. Observation period | August 2026 (YYYY-MM code: 2026-08) — when the underlying statistic relates to |
| 2. Period end | 2026-08-31 — final calendar date covered by the observation period |
| 3. Source publication date | 2026-10-13 (13 October 2026) — when the original organisation released this dataset |
| 4. Last checked | 10 November 2026 (2026-11-10) — when HLF last verified the official source |
| Definition | Cumulative percentage growth, dollar increase, and compound annual growth rate (CAGR) in national median weekly private rents over the trailing 5-year and 10-year periods in both nominal and CPI inflation-adjusted (real) terms. |
| Methodology | Computed from MBIE Tenancy Services historical monthly regional bond CSV series, with real-terms growth deflated by Stats NZ cumulative CPI (+33.7% over 10 years; +22.8% over 5 years). |
| Current value | 10Y: +52.6% nominal (4.3%/yr) | +14.1% real CPI-adjusted (+1.3%/yr) |
| Comparison / Prior period | 5Y: +16.7% nominal (3.1%/yr) | -5.0% real (-1.0%/yr) • +$205/wk (+$10,660/yr) nominal over 10 years |
| Official data | MBIE Tenancy Services (August 2026): National median weekly rent = $595/wk (compared with $510/wk 5 years earlier and $390/wk 10 years earlier). |
| HLF calculation | 10Y Nominal: ($595−$390)÷$390=+52.6% (+4.3%/yr) | 10Y Real (÷1.337 CPI): +14.1% (+1.3%/yr) | 5Y Nominal: +16.7% (+3.1%/yr) | 5Y Real (÷1.228 CPI): -5.0%Formula: 10Y Nominal % = ((Rent_t − Rent_t-120) ÷ Rent_t-120) × 100; 10Y Real % = (((Rent_t ÷ Rent_t-120) ÷ 1.337) − 1) × 100; 10Y Real CAGR = (((Rent_t ÷ Rent_t-120) ÷ 1.337)^(1/10) − 1) × 100 |
| HLF interpretation | HLF market context: Comparing both nominal and inflation-adjusted (real) 5-year and 10-year rental growth provides a balanced benchmark for long-term property cashflow modelling and rent-vs-buy comparisons. |
| HLF derived | Yes (Officially reported historical medians & HLF-derived 5-year / 10-year nominal and real (CPI-adjusted) CAGR) |
| Cite as | HLF Pulse, Home Loan Factory. "Long-term 5-year & 10-year New Zealand median weekly rent growth (nominal & real CPI-adjusted)," August 2026. Derived by HLF from MBIE Tenancy Services — Rental Bond Data (Long-Term Series) & Stats NZ CPI. https://pulse-data.homeloanfactory.co.nz/rent-long-term-growth/ (checked 10 November 2026). CC BY 4.0. |
| Reuse licence | CC BY 4.0 (HLF-derived calculations, definitions & commentary; official statistics credited to MBIE Tenancy Services & Stats NZ CPI) • Media Kit & Citation Guide |
| Historical data | Available from February 1993 (403 monthly observations) |
Historical & Cohort Breakdown (Available from February 1993 (403 monthly observations))
| Period | Value |
|---|---|
| Aug 2026 | $595/wk |
| Aug 2025 | $590/wk |
| Aug 2024 | $600/wk |
| Aug 2023 | $580/wk |
| Aug 2022 | $540/wk |
| Aug 2021 | $510/wk |
| Aug 2020 | $470/wk |
| Aug 2019 | $450/wk |
| Aug 2018 | $430/wk |
| Aug 2017 | $400/wk |
| Aug 2016 | $390/wk |
Questions This Data Helps Answer
- How much have New Zealand rents increased over the last 5 and 10 years in nominal and real terms?
- Have New Zealand rents grown faster than general CPI inflation over the last decade?
Source & Tool Verification Chain
1. Official Source & SeriesMBIE Tenancy Services — Rental Bond Data (Long-Term Series) & Stats NZ CPI
Series:
Tenancy Services Monthly Regional Bond CSV (5Y & 10Y Median Rent)2. HLF Transformation
Yes
10Y Nominal % = ((Rent_t − Rent_t-120) ÷ Rent_t-120) × 100; 10Y Real % = (((Rent_t ÷ Rent_t-120) ÷ 1.337) − 1) × 100; 10Y Real CAGR = (((Rent_t ÷ Rent_t-120) ÷ 1.337)^(1/10) − 1) × 1004. Interactive CalculatorInvestment Property Cashflow Calculator
How Dates Are Recorded in HLF Pulse (4-Field Date Standard)
To prevent confusion between when an economic activity occurred and when a government agency published its release, every HLF Pulse record separates four distinct date fields:
| Date Field | Definition & How It Is Populated |
|---|---|
1. Observation period (observation_period) | The period the underlying statistic relates to (for example, September 2026 for monthly RBNZ lending, or Year ended 31 March 2026 for the FMA KiwiSaver Annual Report). |
2. Period end (period_end / as_of) | The final calendar date covered by the observation period (for example, 2026-09-30 or 2026-03-31). Used by HLF’s automated freshness gate to verify series currency. |
3. Source publication date (source_published) | When the original organisation released the statistic (for example, 2026-09-10 for the FMA’s 2026 KiwiSaver Annual Report, or the Published Date recorded inside RBNZ’s workbook metadata). HLF never copies period_end into source_published; where an agency page does not state an exact release date, the agency’s publication schedule is stated explicitly. |
4. Last checked (last_checked) | The date HLF’s automated pipeline last fetched and verified the official source. |
Data Quality & Limitations
- Official published sources: Pulse uses official published data from the Reserve Bank of New Zealand (RBNZ), Stats NZ, Inland Revenue (IRD), the Financial Markets Authority (FMA), MBIE Tenancy Services, the Natural Hazards Commission Toka Tū Ake (NHC), and the Accident Compensation Corporation (ACC) wherever available.
- Unaltered official figures & source rounding: HLF does not alter or estimate official source figures. Where official tables publish rounded aggregates (such as RBNZ dollar series rounded to $1m or $0.1m), derived averages and implied counts reflect that source rounding and note it explicitly in the provenance layer.
- Provenance & derivation layer: To keep the primary editorial summaries natural and readable, exact formulas, series IDs, and derivation labels (Derived by HLF Pulse) are recorded in the expandable provenance layer, Data Dictionary tables,
pulse.json, andllms.txt. Long-term 5-year and 10-year series report both nominal growth and CPI inflation-adjusted (real) growth using Stats NZ’s Consumers Price Index. - Price indices vs. individual quotes: Stats NZ CPI insurance sub-indices measure percentage changes in standardised insurance price indices over time—they do not represent the dollar premium quote for an individual property or policyholder.
- Separate claim counts vs. individual proportions: In the ACC dataset, annual weekly compensation claims and total accepted injury claims (which are mostly minor treatment-only visits) are reported as two separate annual claim counts rather than a proportion of injured individuals.
- Commitments vs. settlements: RBNZ mortgage lending tables (C31, C32, C33, C40, C41) measure firm bank mortgage commitments/approvals rather than LINZ property title settlements.
- Automatic staleness exclusion: HLF automatically excludes any series where the underlying source is unavailable, stale past its freshness window, or cannot be verified.
- Market context vs. individual outcomes: Statistics describe aggregate historical market cohorts and do not predict an individual borrower’s, saver’s, or policyholder’s credit assessment, underwriting, or lending outcome.
Reuse Terms, Licensing & How to Cite (CC BY 4.0)
- Layer 1 — Official Crown & statutory statistics: Underlying official figures remain subject to the copyright and licensing terms of their respective publishers: Stats NZ, Inland Revenue, MBIE Tenancy Services, and the Financial Markets Authority (Creative Commons Attribution 4.0 International — CC BY 4.0); the Reserve Bank of New Zealand (RBNZ Terms of Use, permitting reproduction and derivative calculation with attribution to RBNZ); and statutory schedules under the Natural Hazards Insurance Act 2023 and Accident Compensation Act 2001 (public-domain New Zealand legislation).
- Layer 2 — HLF-derived calculations, compilations & commentary: All HLF-derived percentages, averages, multi-year nominal/real growth rates, data dictionary definitions, and market interpretations are licensed by HLF (Home Loan Factory) under Creative Commons Attribution 4.0 International (CC BY 4.0). Journalists, researchers, advisers, and AI systems may freely quote and reuse HLF-derived figures and commentary provided attribution is given to HLF Pulse, Home Loan Factory with a link to
https://pulse-data.homeloanfactory.co.nz/, the specific/{ticker}/record URL, or the HLF Pulse Media Kit & Citation Guide.