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

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
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...

More Property

Du Val Lakewood Plaza entities owe $16.2m
Property

Du Val Lakewood Plaza entities owe $16.2m

Not a cent of what's owed over the Manukau apartment tower has been paid, BDO says.

No oversight of a sector handling millions
Property

Maria Slade: No oversight of a sector handling millions

Not regulating property managers is like putting on a new dress without doing up the zip.

Maria Slade 14 Oct 2024
Du Val founders seek legal aid
Property

Du Val founders seek legal aid

Receivers are trying to get out of paying rent on the Clarkes' Remuera home.

Freedom Lifestyle Villages sells $40m stake
Property

Freedom Lifestyle Villages sells $40m stake

The investment will fund the group's plan to grow to 10 or 15 villages, chair says.

Maria Slade 08 Oct 2024