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New Zealand (NZX) Real Estate Sector Analysis

UpdatedJul 22, 2025
DataAggregated Company Financials
Companies12
  • 7D-0.3%
  • 3M12.7%
  • 1Y4.7%
  • YTD4.1%

In the last week, Real Estate has been flat. The past year has been better, since the industry has gained 4.7% in that time. Earnings are forecast to grow by 29% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 22 Jul 2025NZ$12.4bNZ$1.7bNZ$330.9m27.5x37.6x7.2x
Thu, 19 Jun 2025NZ$11.7bNZ$1.7bNZ$330.9m25.4x35.3x6.8x
Sat, 17 May 2025NZ$11.8bNZ$1.7b-NZ$273,703,000.0032.8x-43.1x7.1x
Mon, 14 Apr 2025NZ$11.1bNZ$1.7b-NZ$234,959,000.0033.2x-47.4x6.7x
Wed, 12 Mar 2025NZ$11.6bNZ$1.7b-NZ$234,959,000.0033.3x-49.5x7x
Fri, 07 Feb 2025NZ$12.0bNZ$1.6b-NZ$391,846,000.0036x-30.6x7.4x
Sun, 05 Jan 2025NZ$11.9bNZ$1.6b-NZ$391,846,000.0036.4x-30.4x7.3x
Tue, 03 Dec 2024NZ$12.2bNZ$1.6b-NZ$391,846,000.0036.9x-31x7.4x
Thu, 31 Oct 2024NZ$12.4bNZ$1.6b-NZ$878,950,000.0018.7x-14.1x7.9x
Sat, 28 Sep 2024NZ$12.0bNZ$1.6b-NZ$878,950,000.0019.4x-13.6x7.6x
Mon, 26 Aug 2024NZ$12.7bNZ$1.6b-NZ$1,054,450,000.0020.6x-12x8.2x
Wed, 24 Jul 2024NZ$11.9bNZ$1.6b-NZ$1,149,480,000.0014.5x-10.4x7.6x
Fri, 21 Jun 2024NZ$11.6bNZ$1.6b-NZ$1,149,480,000.0014.8x-10.1x7.3x
Sun, 19 May 2024NZ$11.9bNZ$1.5b-NZ$1,162,174,000.0014.8x-10.3x7.8x
Tue, 16 Apr 2024NZ$12.6bNZ$1.5b-NZ$1,289,591,000.0016.6x-9.7x8.2x
Thu, 14 Mar 2024NZ$12.2bNZ$1.5b-NZ$1,289,591,000.0016.8x-9.4x7.9x
Sat, 10 Feb 2024NZ$12.4bNZ$1.5b-NZ$1,253,498,000.0014.3x-9.9x8.1x
Mon, 08 Jan 2024NZ$12.7bNZ$1.5b-NZ$1,253,498,000.0015.2x-10.1x8.3x
Wed, 06 Dec 2023NZ$11.8bNZ$1.5b-NZ$1,253,498,000.0014.1x-9.4x7.7x
Fri, 03 Nov 2023NZ$11.5bNZ$1.5b-NZ$1,043,221,000.0013.7x-11x7.5x
Sun, 01 Oct 2023NZ$11.9bNZ$1.5b-NZ$1,043,221,000.0013.6x-11.4x7.8x
Tue, 29 Aug 2023NZ$12.6bNZ$1.5b-NZ$1,043,221,000.0013.5x-12.1x8.2x
Thu, 27 Jul 2023NZ$13.0bNZ$1.5b-NZ$514,260,000.0012.4x-25.3x8.4x
Sat, 24 Jun 2023NZ$12.4bNZ$1.5b-NZ$514,260,000.0011.8x-24.2x8.1x
Mon, 22 May 2023NZ$12.4bNZ$1.6bNZ$192.4m13.4x64.3x7.8x
Wed, 19 Apr 2023NZ$12.3bNZ$1.6bNZ$576.8m12.8x21.3x7.8x
Fri, 17 Mar 2023NZ$12.2bNZ$1.6bNZ$576.8m12.5x21.1x7.7x
Sun, 12 Feb 2023NZ$12.7bNZ$1.5bNZ$1.0b10.3x12.2x8.4x
Tue, 10 Jan 2023NZ$12.2bNZ$1.5bNZ$1.0b10.3x11.8x8.1x
Thu, 08 Dec 2022NZ$12.5bNZ$1.5bNZ$1.0b10.4x12x8.2x
Sat, 05 Nov 2022NZ$12.6bNZ$1.5bNZ$2.2b6.1x5.8x8.3x
Mon, 03 Oct 2022NZ$12.9bNZ$1.5bNZ$2.2b6.2x6x8.5x
Wed, 31 Aug 2022NZ$13.8bNZ$1.5bNZ$2.2b6.7x6.4x9x
Fri, 29 Jul 2022NZ$13.8bNZ$1.5bNZ$2.4b6.2x5.7x9.2x
Price to Earnings Ratio

5.7x


Total Market Cap: NZ$13.8bTotal Earnings: NZ$2.4bTotal Revenue: NZ$1.5bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Real Estate Sector Price to Earnings3Y Average -7.9x202320242025
Current Industry PE
  • Investors are optimistic on the New Zealander Real Estate industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 37.6x which is higher than its 3-year average PE of -7.9x.
  • The industry is trading close to its 3-year average PS ratio of 7.8x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 49% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.8% 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 Market1.83%
Real Estate-0.25%
Office REITs2.03%
Retail REITs0.22%
REITS0.015%
Specialized REITs0%0
Industrial REITs-0.35%
Health Care REITs-2.20%
Real Estate-3.50%
Industry PE
  • Investors are most optimistic about the Real Estate industry which is trading above its 3-year average PE ratio of 19.0x.
    • Analysts are expecting annual earnings growth of 110.9%, which is higher than its past year's earnings decline of 37.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 111% over the next 5 years.
  • This is better than its past earnings decline of 38% per year.
  • In contrast, the Specialized REITs industry is expected to see its earnings decline by 14% 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
PFI Property For IndustryNZ$2.320.9%
+NZ$10.0m		5.7%PB0.9x
KPG Kiwi Property GroupNZ$0.980.5%
+NZ$8.2m		15.3%PB0.9x
SPG Stride Property GroupNZ$1.240.8%
+NZ$5.6m		1.6%PB0.7x
ARG Argosy PropertyNZ$1.140.4%
+NZ$4.3m		6.1%PB0.7x
IPL Investore PropertyNZ$1.170.9%
+NZ$3.8m		5.4%PB0.7x

Latest News

IPL
NZ$1.17
Investore Property
7D
0.9%
1Y
5.4%
VHP
NZ$2.00
Vital Healthcare Property Trust
7D
-2.2%
1Y
3.4%
PCT
NZ$1.22
Precinct Properties NZ & Precinct Properties Investments
7D
-0.4%
1Y
-2.8%
WIN
NZ$1.96
Winton Land
7D
-5.3%
1Y
3.2%
KPG
NZ$0.98
Kiwi Property Group
7D
0.5%
1Y
15.3%
ARG
NZ$1.14
Argosy Property
7D
0.4%
1Y
6.1%
SPG
NZ$1.24
Stride Property Group
7D
0.8%
1Y
1.6%
GMT
NZ$2.01
Goodman Property Trust
7D
-2.0%
1Y
-3.4%
APL
NZ$0.20
Asset Plus
7D
2.6%
1Y
-2.4%
PFI
NZ$2.32
Property For Industry
7D
0.9%
1Y
5.7%
NZL
NZ$0.92
New Zealand Rural Land
7D
-1.1%
1Y
1.1%