Legacy recipients jostle for a piece of $1.25 trillion pie

Legacy recipients jostle for a piece of $1.25 trillion pie
Queenstown has the highest number of $2 million-plus homes. (Image: BusinessDesk)
Brent Melville
An estimated $1.25 trillion will be passed from New Zealand's baby boomers to the next generation over the coming 20 years. It's the biggest intergenerational transfer of wealth ever seen – more than seven times the value of NZ listed stocks – and it represents about 80% of the book value of the country’s 1.7 million homes and property. That's pegged at about $1.56t, according to property analytics firm CoreLogic. The estimate comes from the Community Foundations of NZ (CFNZ), which itself has a bequest p...

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