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Real Estate Services in New Zealand Industry Data and Analysis
New Zealand’s Real Estate Services industry has experienced a sharp cycle over the past few years, shaped largely by shifts in monetary and lending policy. Record-low interest rates and relaxed lending rules in 2020 and 2021 fuelled borrowing and pushed house prices to historic highs in 2021-22, lifting commission income. Subsequently, extended bright-line rules, tighter LVR settings and rising interest rates reversed momentum. Transactions fell heavily in 2022-23 as affordability deteriorated. Since then, the market has moved through a gradual adjustment phase. Volumes improved in 2023-24 and 2024-25, but flat prices and cautious investors kept revenue under pressure. Rate cuts from late 2024 have supported a modest recovery in activity and led to profit growth, yet the lagged impact of earlier tightening means industry revenue is projected to contract at an annualised 4.6% over the five years through 2026-27 to $6.6 billion, despite an expected 1.6% rebound in 2026-27.
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What's included in this industry analysis
IBISWorld's research coverage on the Real Estate Services industry in New Zealand includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released May 2026.
About this industry
What's this industry report about?
The Real Estate Services industry in New Zealand operates under the ANZSIC industry code L6720NZ. Real estate services providers mainly appraise, purchase, sell (by auction or private treaty), manage or rent residential property, commercial property or a combination of the two. In exchange for their services, these providers typically earn a commission, which is a percentage of the property's selling price or rental income. Related terms covered in the Real Estate Services industry in New Zealand include owner-occupiers, web portal, vacancy rate and loan-to-value restrictions.
What's included in this industry?
Products and services covered in Real Estate Services industry in New Zealand include Property sales, Property leasing and Property management.
What companies are included in this industry?
Companies covered in the Real Estate Services industry in New Zealand include Harcourts, Ray White (Real Estate) and Colliers International New Zealand Limited.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Real Estate Services industry in New Zealand.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Real Estate Services industry in New Zealand.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Real Estate Services industry in New Zealand.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Real Estate Services industry in New Zealand. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Real Estate Services industry in New Zealand. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Real Estate Services industry in New Zealand. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Real Estate Services industry in New Zealand. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Real Estate Services industry in New Zealand.
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Frequently Asked Questions
What is the market size of the Real Estate Services industry in New Zealand in 2026?
The market size of the Real Estate Services industry in New Zealand is $6.6bn in 2026.
How many businesses are there in the Real Estate Services industry in New Zealand in 2026?
There are 12,995 businesses in the Real Estate Services industry in New Zealand, which has grown at a CAGR of 1.8 % between 2021 and 2026.
How may import tariffs affect the Real Estate Services industry in New Zealand?
The Real Estate Services industry in New Zealand is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Real Estate Services industry in New Zealand?
The Real Estate Services industry in New Zealand is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Real Estate Services industry in New Zealand grown or declined over the past 5 years?
The market size of the Real Estate Services industry in New Zealand has been declining at a CAGR of 4.6 % between 2021 and 2026.
What is the forecast growth of the Real Estate Services industry in New Zealand over the next 5 years?
Over the next five years, the Real Estate Services industry in New Zealand is expected to grow.
What are the biggest companies in the Real Estate Services industry in New Zealand?
The biggest companies operating in the Real Estate Services industry in New Zealand are Harcourts, Ray White (Real Estate) and Colliers International New Zealand Limited
What does the Real Estate Services industry in New Zealand include?
Property sales and Property leasing are part of the Real Estate Services industry in New Zealand.
Which companies have the highest market share in the Real Estate Services industry in New Zealand?
The company holding the most market share in the Real Estate Services industry in New Zealand is Harcourts.
How competitive is the Real Estate Services industry in New Zealand?
The level of competition is high and increasing in the Real Estate Services industry in New Zealand.
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