The latest rental market insights released by realestate.co.nz highlight continued stability for property investors across the Top of the South, with Nelson and the surrounding Bays reaching a record high average rental price.
According to the February rental report by Hannah Franklin, the national average asking rent for February 2026 was $629 per week, easing slightly by 1.9% year-on-year. While some areas around the country are seeing minor adjustments, the rental market across Nelson, Tasman, and Marlborough continues to demonstrate resilience.
Across Nelson and the Bays, the average asking rent climbed to a record $610 per week, up from $600 in February 2025 — representing a 1.8% year-on-year increase.
This new record highlights the ongoing strength of the local rental market and reflects the continued demand for quality homes in the Nelson and Tasman region. For landlords, this steady growth signals stable rental returns and a healthy long-term investment environment.
In Marlborough, the average asking rent for February was $558 per week, compared with $568 at the same time last year, a 1.6% year-on-year decrease.
However, the number of new rental listings rose significantly to 55 properties — up 48.6% year-on-year. This increase in supply has provided tenants with more choice and allowed rents to adjust slightly in response to current market conditions.
Overall, the latest data points to a balanced and stable rental market across the Top of the South:
• Nelson & Bays achieving a record high average rent of $610 per week
• Stable rental growth supporting consistent investment returns
• Increased listing activity helping maintain a balanced market
• Ongoing tenant demand across Nelson, Tasman, and Marlborough
For landlords in the region, these trends reinforce the long-term strength of residential property investment, particularly when properties are well presented and professionally managed.
At Summit Property Management, we’re working with landlords across Nelson, Tasman, and Marlborough every day and continue to see strong tenant demand for quality rental homes throughout the region.
If you’d like to understand what your rental property could achieve in the current market, our local property management team would be happy to provide an updated rental appraisal and advice on maximising your investment.
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Article Source: Rental market insights from realestate.co.nz, February 2026 report by Hannah Franklin.