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New Zealand (NZX) Real Estate Sector Analysis

UpdatedJun 02, 2025
DataAggregated Company Financials
Companies12
  • 7D0.03%
  • 3M-0.4%
  • 1Y-2.9%
  • YTD-2.7%

The Real Estate is pretty flat in the last 7 days, but Vital Healthcare Property Trust has stood out, gaining 6.0%. Furthermore, the industry has been flat for the past year as well. Looking forward, earnings are forecast to grow by 35% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Thu, 26 Jan 2023NZ$12.3bNZ$1.5bNZ$1.0b10.4x11.9x8.2x
Sat, 24 Dec 2022NZ$12.2bNZ$1.5bNZ$1.0b10.3x11.8x8.1x
Mon, 21 Nov 2022NZ$12.6bNZ$1.5bNZ$1.7b6.7x7.6x8.1x
Wed, 19 Oct 2022NZ$12.2bNZ$1.5bNZ$2.2b5.9x5.6x8x
Fri, 16 Sep 2022NZ$13.7bNZ$1.5bNZ$2.2b6.6x6.3x9x
Sun, 14 Aug 2022NZ$14.3bNZ$1.5bNZ$2.4b6.6x6.1x9.5x
Tue, 12 Jul 2022NZ$13.6bNZ$1.5bNZ$2.4b6.3x5.6x9.1x
Thu, 09 Jun 2022NZ$13.6bNZ$1.5bNZ$2.4b6.1x5.6x9.1x
Price to Earnings Ratio

5.6x


Total Market Cap: NZ$13.6bTotal 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 -9.3x202320242025
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 35.1x which is higher than its 3-year average PE of -9.3x.
  • The 3-year average PS ratio of 7.9x is higher than the industry's current PS ratio of 6.8x.
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 4.4% 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-1.37%
Real Estate0.028%
Health Care REITs6.04%
Retail REITs1.07%
Office REITs0%0
Industrial REITs-0.19%
Specialized REITs-1.09%
REITS-3.02%
Real Estate-3.78%
Industry PE
  • Investors are most optimistic about the Real Estate industry which is trading above its 3-year average PE ratio of 17.6x.
    • 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
VHP Vital Healthcare Property TrustNZ$1.936.0%
+NZ$74.5m		0.5%PB0.7x
KPG Kiwi Property GroupNZ$0.903.4%
+NZ$48.8m		9.8%PB0.8x
CDI CDL Investments New ZealandNZ$0.823.8%
+NZ$8.8m		17.9%PE15.7x
IPL Investore PropertyNZ$1.150.9%
+NZ$3.8m		15.0%PB0.7x
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Latest News

GMT

NZ$1.91

Goodman Property Trust

7D

-0.3%

1Y

-12.8%

SPG

NZ$1.13

Stride Property Group

7D

-2.6%

1Y

-11.7%

APL

NZ$0.20

Asset Plus

7D

2.1%

1Y

-2.5%

KPG

NZ$0.90

Kiwi Property Group

7D

3.4%

1Y

9.8%

VHP

NZ$1.93

Vital Healthcare Property Trust

7D

6.0%

1Y

0.5%

ARG

NZ$1.04

Argosy Property

7D

-3.7%

1Y

-4.1%

IPL

NZ$1.15

Investore Property

7D

0.9%

1Y

15.0%

PFI

NZ$2.12

Property For Industry

7D

-1.2%

1Y

1.0%

NZL

NZ$0.91

New Zealand Rural Land

7D

-1.1%

1Y

0%

CDI

NZ$0.82

CDL Investments New Zealand

7D

3.8%

1Y

17.9%

WIN

NZ$2.00

Winton Land

7D

-7.0%

1Y

-4.8%

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