Property industry’s economic contribution doubles to $50.2b over 10 years: report

The average property value increase across all regions was 49% from 2019 to 2023, the Property Council NZ report says. (Image: Supplied)

John Anthony

Fri, 13 Sep 2024

The property industry’s direct contribution to the New Zealand economy nearly doubled to $50.2 billion, or 15% of total GDP, between 2012 and 2022, the latest Property Council report shows.The just-released New Zealand Property Industry Impact Report 2024, produced for the council by research consultancy Urban Economics, said the sector also had flow-on impacts of $92.4b from increased supplier activity and employee spending, with a total economic impact of $142.7b.Urban Economics estimated that real estate services contributed...

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