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New Zealand (NZX) Real Estate Sector Analysis

UpdatedApr 19, 2024
DataAggregated Company Financials
Companies12
  • 7D-2.1%
  • 3M-2.5%
  • 1Y-2.8%
  • YTD-3.9%

Over the last 7 days, the Real Estate industry has dropped 2.1%, driven by a pullback from Goodman Property Trust of 2.9%. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to grow by 72% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 19 Apr 2024NZ$12.4bNZ$1.5b-NZ$1,289,591,000.0016.6x-9.6x8.1x
Sun, 17 Mar 2024NZ$12.3bNZ$1.5b-NZ$1,289,591,000.0016.6x-9.5x8x
Tue, 13 Feb 2024NZ$12.3bNZ$1.5b-NZ$1,253,498,000.0014.5x-9.8x8x
Thu, 11 Jan 2024NZ$12.7bNZ$1.5b-NZ$1,253,498,000.0014.9x-10.1x8.3x
Sat, 09 Dec 2023NZ$12.0bNZ$1.5b-NZ$1,253,498,000.0014.2x-9.6x7.8x
Mon, 06 Nov 2023NZ$11.6bNZ$1.5b-NZ$1,043,221,000.0014x-11.1x7.5x
Wed, 04 Oct 2023NZ$11.9bNZ$1.5b-NZ$1,043,221,000.0013.8x-11.4x7.8x
Fri, 01 Sep 2023NZ$12.4bNZ$1.5b-NZ$1,043,221,000.0013.2x-11.9x8.1x
Sun, 30 Jul 2023NZ$13.1bNZ$1.5b-NZ$514,260,000.0012.1x-25.4x8.5x
Tue, 27 Jun 2023NZ$12.4bNZ$1.5b-NZ$514,260,000.0012x-24x8x
Thu, 25 May 2023NZ$12.3bNZ$1.6bNZ$34.7m13.1x354.7x7.8x
Sat, 22 Apr 2023NZ$12.4bNZ$1.6bNZ$576.8m12.9x21.5x7.9x
Mon, 20 Mar 2023NZ$2.8bNZ$560.5mNZ$224.7m9.3x12.2x4.9x
Wed, 15 Feb 2023NZ$12.6bNZ$1.5bNZ$1.0b10.2x12.1x8.3x
Fri, 13 Jan 2023NZ$12.2bNZ$1.5bNZ$1.0b10.2x11.7x8x
Sun, 11 Dec 2022NZ$12.6bNZ$1.5bNZ$1.0b10.4x12.1x8.3x
Tue, 08 Nov 2022NZ$12.6bNZ$1.5bNZ$2.2b6.1x5.8x8.3x
Thu, 06 Oct 2022NZ$13.0bNZ$1.5bNZ$2.2b6.3x6x8.5x
Sat, 03 Sep 2022NZ$13.7bNZ$1.5bNZ$2.2b6.7x6.3x9x
Mon, 01 Aug 2022NZ$13.9bNZ$1.5bNZ$2.4b6.2x5.7x9.3x
Wed, 29 Jun 2022NZ$13.4bNZ$1.5bNZ$2.4b6.2x5.5x8.9x
Fri, 27 May 2022NZ$13.6bNZ$1.5bNZ$2.5b5.8x5.5x9.1x
Sun, 24 Apr 2022NZ$14.9bNZ$1.5bNZ$2.8b5.6x5.3x10x
Tue, 22 Mar 2022NZ$15.1bNZ$1.5bNZ$2.8b5.6x5.4x10.1x
Thu, 17 Feb 2022NZ$15.4bNZ$1.4bNZ$2.7b5.5x5.6x11.2x
Sat, 15 Jan 2022NZ$15.9bNZ$1.3bNZ$2.7b5.4x5.9x12.6x
Mon, 13 Dec 2021NZ$14.6bNZ$1.3bNZ$2.7b6x5.4x11.6x
Wed, 10 Nov 2021NZ$14.2bNZ$1.2bNZ$2.2bn/a6.3x11.7x
Fri, 08 Oct 2021NZ$14.5bNZ$1.2bNZ$2.2b5.8x6.5x12x
Sun, 05 Sep 2021NZ$14.8bNZ$1.2bNZ$2.2b5.9x6.6x12.3x
Tue, 03 Aug 2021NZ$14.2bNZ$1.2bNZ$2.2b5.7x6.3x11.7x
Fri, 07 May 2021NZ$13.5bNZ$1.2bNZ$1.9b7.4x7.1x11.4x
Price to Earnings Ratio

7.1x


Total Market Cap: NZ$13.5bTotal Earnings: NZ$1.9bTotal Revenue: NZ$1.2bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Real Estate Sector Price to Earnings3Y Average 2.2x202220232024
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 3-year average PS ratio of 9.3x is higher than the industry's current PS ratio of 8.1x.
Past Earnings Growth
  • Total earnings for the Real Estate industry have declined over the last three years, with the industry now making a loss overall.
  • Meanwhile revenues have grown 8.9% 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-0.80%
Real Estate-2.09%
Health Care REITs0.23%
Residential REITs0%
Hotel and Resort REITs0%
Specialized REITs-1.08%
Real Estate-1.70%
REITS-2.00%
Office REITs-2.51%
Industrial REITs-2.57%
Retail REITs-2.62%
Industry PE
  • Investors are most optimistic about the Real Estate industry which is trading above its 3-year average PE ratio of 12.7x.
    • Analysts are expecting annual earnings growth of 14.6%, which is higher than its past year's earnings decline of 47.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 102% over the next 5 years.
  • In contrast, the Specialized REITs industry is expected to see its earnings grow by 3.4% 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
CDI CDL Investments New ZealandNZ$0.803.2%
+NZ$7.3m
0.6%PE17.3x
NZL New Zealand Rural LandNZ$0.943.3%
+NZ$4.7m
4.4%PB0.6x
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Latest News

GMT

NZ$2.22

Goodman Property Trust

7D

-2.9%

1Y

3.0%

PFI

NZ$2.23

Property For Industry

7D

-2.6%

1Y

-2.2%

ARG

NZ$1.14

Argosy Property

7D

-1.3%

1Y

1.8%

NZL

NZ$0.94

New Zealand Rural Land

7D

3.3%

1Y

4.4%

KPG

NZ$0.83

Kiwi Property Group

7D

-2.9%

1Y

-5.7%

IPL

NZ$1.11

Investore Property

7D

-3.5%

1Y

-21.8%

SPG

NZ$1.29

Stride Property Group

7D

-1.5%

1Y

-0.8%