2025 was a year of meaningful change in Hamilton’s rental market. As New Zealand’s fastest growing city, Hamilton continued to attract families and professionals, yet the market began to show signs of cooling after several years of intense growth.

For landlords, this meant opportunity, but also a need for sharper strategy, realistic pricing, and strong presentation. For tenants, it meant more choice and higher expectations around service and communication.

At Glasshouse, we experienced this shift, with 532 properties rented, 2,467 scheduled viewings, and nearly 15,000 viewing attendees, 2025 was active and competitive.

Despite that, our rentals remained over 99% occupied, and our average days on market dropped to just 14 days, outperforming broader Waikato trends.

Below is our full look back at the year, what shaped the market, how Glasshouse adapted, and what landlords should expect in 2026.

A More Competitive Tenant Market

While the Waikato remained resilient for much of the year, the second half of 2025 saw increases in available rental stock.

Industry data showed:

Rental listings were 13% higher in November 2025 compared to November 2024
Listings were around 50% higher than in February 2025
Average days to let increased across the region from mid-year

This change didn’t mean a “tough” market, but it did mean a more competitive one. Tenants had more choice, and properties that were poorly presented, overpriced, or located in oversupplied areas became noticeably “sticky”

Seasonality also plays a role. December and January are traditionally challenging months to secure new tenancies, and this year followed that pattern.

Hamilton’s Demand Is Still Strong

Despite the shifting conditions, Hamilton’s foundations remain very solid:

It was named New Zealand’s fastest-growing city in 2025
National population growth slowed, but Waikato continued to perform
Internal migration continued to bring families and professionals into the region

Glasshouse’s Market Performance

Even as supply increased and competition tightened, Glasshouse continued to outperform the wider market.

Here’s what our data shows:

532 homes rented in 2025
14,807 viewing attendees across the year
Average days on market dropped to 14 days
Portfolio occupancy remained above 99%

While market rental values eased:

Average rent Jan - Jun: $626
Average rent Jul - Dec: $592

Our ability to secure high-quality tenants quickly remained strong thanks to proactive strategy, careful pricing, and superior presentation.

How We Outperformed the Market in 2025

At Glasshouse, our advantage comes from a combination of discipline, responsiveness, care and the ability to pivot as the market moves.

1. The Three P’s: Price, Presentation, Prepare

These fundamentals became even more important this year:

Price
We set realistic rents from the start, not inflated appraisals that lead to long vacancies.
This ensured strong enquiry and faster tenant placement.

Presentation
Professional photography, tidy homes, proactive maintenance, and optional staging made our listings stand out - crucial in a market where tenants could choose between multiple options.

Prepare
We improved how our listings and our team are represented across Trade Me, realestate.co.nz, OneRoof, and our website. Updated team photos, clearer booking instructions, and brand improvements all contributed to increased conversion.

2. Smarter Viewing Strategy

More viewing times available
Video tours for remote or pre-qualified tenants
Warm, personable PMs who leave a strong impression

When tenants have choice, they choose the people they want to deal with, and our communication sets us apart.

3. A Faster, Clearer Application Process

Using TPS, we kept applications transparent and easy to complete, reducing friction and speeding up decisions.

4. Speed & Accountability

Fast response to enquiries
Fast, thorough application processing
Weekly internal letting meetings
KPIs tracked team-wide

Excellent service doesn’t happen by accident, it's our focus.

Shift in Tenant Expectations

2025 also saw tenants become more selective and more informed.

They placed stronger emphasis on:

Service and responsiveness
Healthy Homes compliance
Energy efficiency
Clarity around pets
Transparent communication

For many applicants, the deciding factor wasn’t the property - it was the property manager. This was a competitive advantage for Glasshouse.

Why the Market Changed

Several drivers influenced the second half slowdown:

Seasonality
December to January always tends to increase supply and soften demand.

New Builds Entering the Market
Developers renting unsold stock increased rental supply significantly.

Population Growth Slowing
Still strong, but not at previous peaks.

Interest Rate Relief
As mortgage costs eased, pressure on rents softened.

High First-Home Buyer Activity
A positive sign for Waikato, but it did remove some excellent long-term tenants from the rental pool.

What Landlords Should Focus on in 2026

The best way to perform well in a competitive market? Keep your good tenants and present strongly when you need to re-let.

Here’s what we advise:

1. Consider holding off rent increases (for now)

Stability matters. A happy, long-term tenant is often more valuable than a small increase.

2. Stay responsive to maintenance and pet requests

Goodwill goes a long way in retaining quality tenants.

3. Invest in presentation if your property becomes available

Small upgrades can dramatically improve enquiry and reduce days on market.

4. Trust your PM on pricing

Rents have come down slightly, about $10/week from peak but this varies by area and property type. Accurate pricing is key to swift turnaround.

Looking Ahead to 2026

While offering predictions is never an exact science, the indicators for Hamilton remain positive.

Recent data from CoreLogic and other market monitors reflect continued gradual recovery in most regions outside Auckland and Wellington. Waikato stands on strong foundations: population, employment, and GDP growth all point toward a stable and confident year ahead.

We expect:

Strong but more measured enquiry
Continued importance of presentation and pricing
Higher demand for energy-efficient, low-maintenance homes
More tenants choosing properties based on service quality
A clearer market picture by March once seasonal patterns settle

With the right strategy, 2026 offers plenty of opportunity for Hamilton landlords.

Here to Support You Through Every Shift

Whether the market is tight, competitive, or somewhere in between, one thing stays the same:
our commitment to care, clarity, and performance.

If you’d like help preparing for 2026, reviewing your rent, refreshing presentation, or simply getting clarity our team is here to support you every step of the way.