Is Renting Better Than Owning in Auckland Right Now?
Short answer? In the current Auckland economy — yes, if you’re thinking short term.
But that’s only part of the story.
Let’s say you're currently paying $750 a week in rent. That’s $1,500 a fortnight. If you were to buy, your mortgage might sit around $2,800 a fortnight for a similar home. From a cashflow perspective, renting clearly looks more appealing right now.
So, why should you consider buying at all?
Despite how much we love to complain about the Auckland market, history shows the market eventually recovers — and grows. Auckland remains the commercial heart of New Zealand. For long-term security, ownership still has undeniable benefits.
Here’s the honest truth:
Owning gives you control. No risk of rent increases or sudden eviction notices.
You’re building equity. Each mortgage payment, painful as it may feel, goes toward something you own.
Retirement security. Most Kiwi retirement planning assumes you'll own your home outright. Renters often face financial stress later in life.
However, one size doesn’t fit all.
Owning isn’t always the best move — especially if you're only in Auckland temporarily or don’t want to commit to a mortgage just yet. Renting can make sense, if you're financially disciplined enough to invest the difference into other appreciating assets.
Things to Consider Before Deciding:
Upfront costs to buy are much higher (10-20% deposit, legal fees, LIMs, etc).
Renters enjoy flexibility — no need to sell or pay real estate fees if you move.
Owners are responsible for repairs, rates, and ongoing maintenance.
Property values can go down — and if you’re highly leveraged, the losses are magnified.
Final Thoughts:
There’s no universal right answer. But in a market like Auckland, where prices have softened and rental demand is high, it’s worth asking:
Are you renting just because it's easier now, or are you also thinking long-term?
I’m always happy to talk through options — whether you're buying your first home, planning ahead, or wondering if now is your time to step into the market. Everyone’s situation is different, but together we can figure out what’s best for yours.