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New Zealand (NZX) Real Estate Sector Analysis
UpdatedMay 23, 2026
DataAggregated Company Financials
Companies12
- 7D-0.6%
- 3M-2.9%
- 1Y-1.3%
- YTD-8.8%
In the last week, Real Estate has been flat. Furthermore, the industry has been flat for the past year as well. Looking forward, earnings are forecast to grow by 24% annually.
Sector Valuation and Performance
Has the New Zealand Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 23 May 2026 | NZ$12.0b | NZ$1.7b | NZ$448.5m | 17.6x | 26.8x | 7x |
| Mon, 20 Apr 2026 | NZ$11.9b | NZ$1.7b | NZ$457.6m | 17.9x | 26.1x | 7x |
| Wed, 18 Mar 2026 | NZ$12.2b | NZ$1.7b | NZ$457.6m | 19.4x | 26.7x | 7.2x |
| Fri, 13 Feb 2026 | NZ$12.8b | NZ$1.8b | NZ$544.5m | 15.6x | 23.4x | 7.3x |
| Sun, 11 Jan 2026 | NZ$13.3b | NZ$1.8b | NZ$490.8m | 15.6x | 27.2x | 7.6x |
| Tue, 09 Dec 2025 | NZ$13.2b | NZ$1.8b | NZ$490.8m | 15.8x | 26.9x | 7.5x |
| Thu, 06 Nov 2025 | NZ$13.7b | NZ$1.7b | NZ$453.3m | 22.3x | 30.3x | 8x |
| Sat, 04 Oct 2025 | NZ$13.7b | NZ$1.7b | NZ$453.3m | 22.9x | 30.2x | 7.9x |
| Mon, 01 Sep 2025 | NZ$12.7b | NZ$1.7b | NZ$453.3m | 21.6x | 28x | 7.3x |
| Wed, 30 Jul 2025 | NZ$12.3b | NZ$1.7b | NZ$330.9m | 27.7x | 37.2x | 7.2x |
| Fri, 27 Jun 2025 | NZ$11.8b | NZ$1.7b | NZ$330.9m | 25.6x | 35.8x | 6.9x |
| Sun, 25 May 2025 | NZ$11.6b | NZ$1.7b | -NZ$115,621,000.00 | 18.6x | -100.4x | 6.9x |
| Tue, 22 Apr 2025 | NZ$11.1b | NZ$1.7b | -NZ$234,959,000.00 | 32.6x | -47.4x | 6.7x |
| Thu, 20 Mar 2025 | NZ$11.3b | NZ$1.7b | -NZ$234,959,000.00 | 32.3x | -48.1x | 6.8x |
| Sat, 15 Feb 2025 | NZ$12.0b | NZ$1.6b | -NZ$391,846,000.00 | 34.8x | -30.6x | 7.3x |
| Mon, 13 Jan 2025 | NZ$12.0b | NZ$1.6b | -NZ$391,846,000.00 | 36.4x | -30.5x | 7.3x |
| Wed, 11 Dec 2024 | NZ$11.9b | NZ$1.6b | -NZ$391,846,000.00 | 36.4x | -30.3x | 7.3x |
| Fri, 08 Nov 2024 | NZ$12.4b | NZ$1.6b | -NZ$884,852,000.00 | 19.6x | -14x | 7.8x |
| Sun, 06 Oct 2024 | NZ$12.2b | NZ$1.6b | -NZ$878,950,000.00 | 19.4x | -13.8x | 7.7x |
| Tue, 03 Sep 2024 | NZ$12.7b | NZ$1.6b | -NZ$878,950,000.00 | 20.6x | -14.5x | 8.1x |
| Thu, 01 Aug 2024 | NZ$12.0b | NZ$1.6b | -NZ$1,149,480,000.00 | 14.3x | -10.4x | 7.6x |
| Sat, 29 Jun 2024 | NZ$11.4b | NZ$1.6b | -NZ$1,149,480,000.00 | 15.1x | -9.9x | 7.2x |
| Mon, 27 May 2024 | NZ$12.0b | NZ$1.5b | -NZ$1,106,114,000.00 | 14.7x | -10.8x | 7.8x |
| Wed, 24 Apr 2024 | NZ$12.3b | NZ$1.5b | -NZ$1,289,591,000.00 | 16.3x | -9.6x | 8x |
| Fri, 22 Mar 2024 | NZ$12.1b | NZ$1.5b | -NZ$1,289,591,000.00 | 16x | -9.4x | 7.9x |
| Sun, 18 Feb 2024 | NZ$12.2b | NZ$1.5b | -NZ$1,286,901,000.00 | 14.1x | -9.5x | 8x |
| Tue, 16 Jan 2024 | NZ$12.5b | NZ$1.5b | -NZ$1,253,498,000.00 | 15.2x | -10x | 8.2x |
| Thu, 14 Dec 2023 | NZ$11.9b | NZ$1.5b | -NZ$1,253,498,000.00 | 14x | -9.5x | 7.8x |
| Sat, 11 Nov 2023 | NZ$11.6b | NZ$1.5b | -NZ$1,043,221,000.00 | 14.2x | -11.2x | 7.6x |
| Mon, 09 Oct 2023 | NZ$12.0b | NZ$1.5b | -NZ$1,043,221,000.00 | 13.4x | -11.5x | 7.8x |
| Wed, 06 Sep 2023 | NZ$12.3b | NZ$1.5b | -NZ$1,043,221,000.00 | 13.2x | -11.8x | 8x |
| Fri, 04 Aug 2023 | NZ$13.1b | NZ$1.5b | -NZ$514,260,000.00 | 11.9x | -25.4x | 8.5x |
| Sun, 02 Jul 2023 | NZ$12.6b | NZ$1.5b | -NZ$514,260,000.00 | 11.7x | -24.4x | 8.2x |
| Tue, 30 May 2023 | NZ$12.4b | NZ$1.6b | -NZ$93,450,000.00 | 12.5x | -132.4x | 7.9x |
Price to Earnings Ratio
-132.4x
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 26.8x which is higher than its 3-year average PE of -3.4x.
- The industry is trading close to its 3-year average PS ratio of 7.6x.
Past Earnings Growth
- Total earnings for the Real Estate industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 3.1% per year.
- This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.
Industry Trends
Which industries have driven the changes within the New Zealand Real Estate sector?
| NZ Market | 0.00022% | |
| Real Estate | -0.55% | |
| Specialized REITs | 2.16% | |
| Real Estate | 1.77% | |
| Health Care REITs | 1.38% | |
| Office REITs | 0.97% | |
| Retail REITs | -0.39% | |
| REITS | -0.94% | |
| Industrial REITs | -2.26% | |
Industry PE
- Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 36.6x.
- Analysts are expecting annual earnings growth of 25.9% and investors are willing to pay a premium for that growth.
Forecasted Growth
- Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 103% over the next 5 years.
- This is better than its past earnings growth rate of 78% per year.
- In contrast, the Specialized REITs industry is expected to see its earnings growth to stay flat over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| VHP Vital Healthcare Property Trust | NZ$1.84 | 1.4% +NZ$20.1m | 1.1% | PB0.8x | |
| PCT Precinct Properties NZ & Precinct Properties Investments | NZ$1.04 | 1.0% +NZ$18.5m | -10.3% | PB0.9x | |
| WIN Winton Land | NZ$1.65 | 3.1% +NZ$14.8m | -22.9% | PE42.8x | |
| NZL New Zealand Rural Land | NZ$0.94 | 2.2% +NZ$2.9m | 2.7% | PB0.6x | |
| APL Asset Plus | NZ$0.18 | 0.6% +NZ$362.7k | -6.8% | PB0.5x |