Three of New Zealand's Central North Island regions recorded all-time high new rental listings in May, according to a report by realestate.co.nz released on Wednesday.

New listings in Gisborne doubled year on year, rising 102.2% to 91 in May from 45 in the same period last year, while Hawke's Bay recorded a 26.5% increase with 129 new listings.

Manawatū-Whanganui's new listings were up 17% year on year to 399.

Meanwhile, Otago recorded 48.9% year-on-year decline in new rental listings, falling to 156 from 305. The region's stock also declined by almost 46.7% in May 2025 to 192 total rental listings.

Additionally, Southland's new listings declined by almost 23.7%, although its stock levels increased 6.7% compared to the same time last year.

In Wellington, total rental stock fell nearly 24.8% year on year in May to 845 properties from 1,123, and new listings declined 12.1% over the same period to 567 from 645.