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

Private building consent body offers competition
Property

Private building consent body offers competition

The country's first independent consenting authority is targeting group builders.

Maria Slade 04 Jun 2025
Analysts eye upside in property sector as values stabilise
Property

Analysts eye upside in property sector as values stabilise

On average, listed property companies are trading at a 22% discount to NTA.

Gregor Thompson 04 Jun 2025
Stuff/TradeMe go head to head with NZME
Property

Stuff/TradeMe go head to head with NZME

The marriage of online advertising portals with news producers continues.

Pattrick Smellie 03 Jun 2025
Argosy signals succession plan
Property

Argosy signals succession plan

Argosy Property has signalled its management and governance succession plan.The listed property company told the market on Tuesday that directors Chris Gudgeon and Mike Pohio will not stand for re-election at the coming annual general meeting (AGM) in July. The firm also said tha...

Gregor Thompson 03 Jun 2025