When will New Zealand's economy recover? This key indicator was unexpected

Comprehensive report from New Zealand Chinese Herald The latest data shows that about 60% of New Zealand’s commercial properties for rent are concentrated in Auckland, with a total of more than 15,250 properties.

Currently, the total number of commercial properties for rent nationwide on the realestate.co.nz platform has exceeded 28,000. This is the highest level since the data began tracking in early 2025.

This phenomenon is somewhat surprising because this indicator is usually regarded as a leading barometer during economic recovery, but the current supply surge reflects that it will still take time for the market to digest.

But there are clear positive signs in the South Island. Apart from Nelson, the number of commercial rental listings remained stable in Christchurch, with slight growth but below the national average in Dunedin and almost zero in Queenstown and Invercargill.

In Wellington, the situation is completely opposite, with the number of properties available for rent increasing by 15.8% in a year. But it’s not the city with the highest growth. New Plymouth’s growth rate was as high as 17.7%, and Tauranga’s growth rate reached 24.6%.

Hamilton’s annual growth rate was 10.5%, below the national average of 12.7% over the same period.

There are also significant differences in housing availability across Auckland’s regions. While the majority of listings are concentrated in central Auckland, they are now down 4 per cent from the peak in August to 3957 homes. The number of rental listings on the North Shore is also declining.

The most competitive area of Auckland’s housing market is South Auckland, where the number of properties has hit an all-time high, although the absolute number of properties on the market is still relatively small, even lower than in Christchurch, which has a similar population.