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New Zealand (NZX) Real Estate Sector Analysis

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies12
  • 7D-1.4%
  • 3M-9.1%
  • 1Y0.1%
  • YTD-4.7%

Over the last 7 days, the Real Estate industry has dropped 1.4%, driven by Goodman Property Trust declining 1.6%. As for the longer term, the industry's performance has been flat for the past year. Looking forward, earnings are forecast to grow by 22% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 08 Feb 2026NZ$12.6bNZ$1.8bNZ$544.5m15.2x23x7.1x
Tue, 06 Jan 2026NZ$13.2bNZ$1.8bNZ$490.8m15.2x26.8x7.5x
Thu, 04 Dec 2025NZ$13.2bNZ$1.8bNZ$490.8m15.9x26.9x7.5x
Sat, 01 Nov 2025NZ$13.6bNZ$1.7bNZ$453.3m22.2x30.1x7.9x
Mon, 29 Sep 2025NZ$13.1bNZ$1.7bNZ$453.3m22x29x7.6x
Wed, 27 Aug 2025NZ$12.5bNZ$1.7bNZ$407.7m14.4x30.8x7.2x
Fri, 25 Jul 2025NZ$12.3bNZ$1.7bNZ$330.9m27.3x37x7.1x
Sun, 22 Jun 2025NZ$11.8bNZ$1.7bNZ$330.9m25.3x35.7x6.9x
Tue, 20 May 2025NZ$11.7bNZ$1.7b-NZ$244,435,000.0022.4x-47.9x7x
Thu, 17 Apr 2025NZ$11.0bNZ$1.7b-NZ$234,959,000.0032.3x-46.6x6.6x
Sat, 15 Mar 2025NZ$11.5bNZ$1.7b-NZ$234,959,000.0032.7x-49x6.9x
Mon, 10 Feb 2025NZ$11.9bNZ$1.6b-NZ$391,846,000.0034.8x-30.4x7.3x
Wed, 08 Jan 2025NZ$12.0bNZ$1.6b-NZ$391,846,000.0035.8x-30.6x7.4x
Fri, 06 Dec 2024NZ$11.8bNZ$1.6b-NZ$391,846,000.0035.8x-30.2x7.3x
Sun, 03 Nov 2024NZ$12.3bNZ$1.6b-NZ$878,950,000.0018.8x-14x7.8x
Tue, 01 Oct 2024NZ$12.1bNZ$1.6b-NZ$878,950,000.0019.4x-13.7x7.6x
Thu, 29 Aug 2024NZ$12.6bNZ$1.6b-NZ$888,842,000.0020.6x-14.1x8x
Sat, 27 Jul 2024NZ$12.1bNZ$1.6b-NZ$1,149,480,000.0014.5x-10.5x7.6x
Mon, 24 Jun 2024NZ$11.6bNZ$1.6b-NZ$1,149,480,000.0014.8x-10.1x7.4x
Wed, 22 May 2024NZ$12.0bNZ$1.5b-NZ$1,162,174,000.0015x-10.3x7.8x
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
Price to Earnings Ratio

12.1x


Total Market Cap: NZ$12.6bTotal Earnings: NZ$1.0bTotal Revenue: NZ$1.5bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Real Estate Sector Price to Earnings3Y Average -4x202420252026
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 -4.0x.
  • 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 19% per year over the last three years.
  • Meanwhile revenues for these companies have grown 5.1% 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 Market0.22%
Real Estate-1.41%
Office REITs-0.43%
Retail REITs-0.97%
Health Care REITs-1.27%
REITS-1.57%
Industrial REITs-1.61%
Specialized REITs-1.92%
Real Estate-3.91%
Industry PE
  • Investors are most optimistic about the Health Care REITs industry which is trading above its 3-year average PE ratio of 5.7x.
    • Analysts are expecting annual earnings growth of 40.6% 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
CDI CDL Investments New ZealandNZ$0.771.3%
+NZ$2.9m		4.1%PE13.9x
APL Asset PlusNZ$0.200.5%
+NZ$362.7k		-1.0%PB0.6x

Latest News

VHP
NZ$1.95
Vital Healthcare Property Trust
7D
-1.3%
1Y
4.8%
ARG
NZ$1.15
Argosy Property
7D
-1.7%
1Y
12.2%
KPG
NZ$1.00
Kiwi Property Group
7D
-1.0%
1Y
7.0%
PCT
NZ$1.16
Precinct Properties NZ & Precinct Properties Investments
7D
-0.4%
1Y
-5.3%
PFI
NZ$2.24
Property For Industry
7D
-1.8%
1Y
5.7%
WIN
NZ$1.95
Winton Land
7D
-5.8%
1Y
5.4%
SPG
NZ$1.25
Stride Property Group
7D
-1.6%
1Y
-4.2%
GMT
NZ$1.91
Goodman Property Trust
7D
-1.6%
1Y
-7.1%
APL
NZ$0.20
Asset Plus
7D
0.5%
1Y
-1.0%
CDI
NZ$0.77
CDL Investments New Zealand
7D
1.3%
1Y
4.1%