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New Zealand (NZX) Real Estate Sector Analysis

UpdatedFeb 20, 2026
DataAggregated Company Financials
Companies12
  • 7D-1.3%
  • 3M-6.6%
  • 1Y0.7%
  • YTD-4.7%

Over the last 7 days, the Real Estate industry has dropped 1.3%, driven by pullbacks from every company within the industry. As for the longer term, the industry's performance has been flat for the past year. Earnings are forecast to grow by 21% annually.

Sector Valuation and Performance

Has the New Zealand Real Estate Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Feb 2026NZ$12.5bNZ$1.8bNZ$544.5m15.3x23x7.1x
Mon, 19 Jan 2026NZ$13.2bNZ$1.8bNZ$544.5m16.6x24.2x7.5x
Wed, 17 Dec 2025NZ$13.1bNZ$1.8bNZ$490.8m15.4x26.6x7.5x
Fri, 14 Nov 2025NZ$13.1bNZ$1.7bNZ$453.3m21.9x29x7.6x
Sun, 12 Oct 2025NZ$14.0bNZ$1.7bNZ$453.3m23.4x30.9x8.1x
Tue, 09 Sep 2025NZ$13.2bNZ$1.7bNZ$453.3m22.1x29.1x7.7x
Thu, 07 Aug 2025NZ$12.3bNZ$1.7bNZ$330.9m27.5x37.2x7.2x
Sat, 05 Jul 2025NZ$12.2bNZ$1.7bNZ$330.9m26.9x36.8x7.1x
Mon, 02 Jun 2025NZ$11.6bNZ$1.7bNZ$330.9m25.1x35.1x6.8x
Wed, 30 Apr 2025NZ$11.0bNZ$1.7b-NZ$234,959,000.0032x-47x6.6x
Fri, 28 Mar 2025NZ$11.3bNZ$1.7b-NZ$234,959,000.0032.8x-48.3x6.8x
Sun, 23 Feb 2025NZ$11.7bNZ$1.6b-NZ$409,676,000.0041.5x-28.5x7.1x
Tue, 21 Jan 2025NZ$12.1bNZ$1.6b-NZ$391,846,000.0037.9x-30.9x7.4x
Thu, 19 Dec 2024NZ$11.9bNZ$1.6b-NZ$391,846,000.0035x-30.3x7.3x
Sat, 16 Nov 2024NZ$12.4bNZ$1.6b-NZ$599,957,000.0029.9x-20.6x7.7x
Mon, 14 Oct 2024NZ$12.6bNZ$1.6b-NZ$878,950,000.0020.4x-14.4x8x
Wed, 11 Sep 2024NZ$12.4bNZ$1.6b-NZ$878,950,000.0019.6x-14.2x7.9x
Fri, 09 Aug 2024NZ$11.9bNZ$1.6b-NZ$1,151,762,000.0014.5x-10.4x7.5x
Sun, 07 Jul 2024NZ$11.4bNZ$1.6b-NZ$1,149,480,000.0013.9x-9.9x7.2x
Tue, 04 Jun 2024NZ$11.9bNZ$1.6b-NZ$924,280,000.0015.2x-12.9x7.5x
Thu, 02 May 2024NZ$12.2bNZ$1.5b-NZ$1,289,591,000.0016.2x-9.4x7.9x
Sat, 30 Mar 2024NZ$12.7bNZ$1.5b-NZ$1,289,591,000.0016.9x-9.9x8.3x
Mon, 26 Feb 2024NZ$12.1bNZ$1.5b-NZ$1,294,543,000.0016.9x-9.3x7.9x
Wed, 24 Jan 2024NZ$12.2bNZ$1.5b-NZ$1,253,498,000.0015.1x-9.8x8x
Fri, 22 Dec 2023NZ$12.3bNZ$1.5b-NZ$1,253,498,000.0014.1x-9.8x8x
Sun, 19 Nov 2023NZ$11.8bNZ$1.5b-NZ$1,091,970,000.0014x-10.8x7.7x
Tue, 17 Oct 2023NZ$11.9bNZ$1.5b-NZ$1,043,221,000.0013.1x-11.4x7.8x
Thu, 14 Sep 2023NZ$11.9bNZ$1.5b-NZ$1,043,221,000.0013.2x-11.4x7.8x
Sat, 12 Aug 2023NZ$12.9bNZ$1.5b-NZ$735,643,000.0013.9x-17.6x8.6x
Mon, 10 Jul 2023NZ$12.7bNZ$1.5b-NZ$514,260,000.0011.8x-24.7x8.2x
Wed, 07 Jun 2023NZ$12.3bNZ$1.5b-NZ$500,502,000.0020.7x-24.5x7.9x
Fri, 05 May 2023NZ$12.3bNZ$1.6bNZ$576.8m12.7x21.2x7.8x
Sun, 02 Apr 2023NZ$12.4bNZ$1.6bNZ$576.8m12.8x21.4x7.9x
Tue, 28 Feb 2023NZ$12.4bNZ$1.6bNZ$605.9m12.8x20.4x7.9x
Price to Earnings Ratio

20.4x


Total Market Cap: NZ$12.4bTotal Earnings: NZ$605.9mTotal Revenue: NZ$1.6bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Real Estate Sector Price to Earnings3Y Average -3.9x202420252026
Current Industry PE
  • Investors are pessimistic on the New Zealander Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 23.0x which is higher than its 3-year average PE of -3.9x.
  • The industry is trading close to its 3-year average PS ratio of 7.6x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 3.5% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.9% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the New Zealand Real Estate sector?

NZ Market-0.67%
Real Estate-1.33%
Specialized REITs1.01%
Industrial REITs0.75%
Real Estate-0.17%
Retail REITs-2.01%
Health Care REITs-2.50%
REITS-2.87%
Office REITs-3.02%
Industry PE
  • Investors are most optimistic about the Health Care REITs industry which is trading above its 3-year average PE ratio of 13.4x.
    • Analysts are expecting annual earnings growth of 27.2% and investors are willing to pay a premium for that growth.
  • Investors are most pessimistic about the REITS industry, which is trading below its 3-year average of 21.2x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 92% over the next 5 years.
  • This is better than its past earnings growth rate of 5.2% per year.
  • In contrast, the Specialized REITs industry is expected to see its earnings decline by 3.1% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
No data available

Latest News

ARG
NZ$1.15
Argosy Property
7D
-3.8%
1Y
15.1%
VHP
NZ$1.93
Vital Healthcare Property Trust
7D
-3.3%
1Y
6.0%
KPG
NZ$0.99
Kiwi Property Group
7D
-2.0%
1Y
7.6%
PCT
NZ$1.12
Precinct Properties NZ & Precinct Properties Investments
7D
-3.9%
1Y
-4.7%
PFI
NZ$2.21
Property For Industry
7D
-3.1%
1Y
4.2%
WIN
NZ$1.89
Winton Land
7D
-2.3%
1Y
1.9%
SPG
NZ$1.22
Stride Property Group
7D
-3.9%
1Y
-3.2%
GMT
NZ$1.90
Goodman Property Trust
7D
-0.8%
1Y
-5.9%