Industry Statistics and Trends
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 4.3 % over the past five years, to reach an estimated $7.0bn in 2024.
Trends and Insights
Elevated housing prices have been assisting the performance of real estate agents
- Real estate agents charge fees and commissions based on a property's sale price. That’s why higher housing prices tend to benefit revenue.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
The new Coalition Government will substantially influence the property market landscape
- The real estate sector in New Zealand is continuing to evolve with the changing political climate and tax laws. The recent change in government promises a slower rollback of the interest deductibility law and the bright-line test from 10 years to two years.
Biggest companies in the Real Estate Services in New Zealand
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
Harcourts | 120.3 | |
Ray White (Real Estate) Limited | 105.7 | |
Colliers International New Zealand Limited | 104.2 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Property sales, Property leasing and Property management. Property sales is the largest segment of the Real Estate Services in New Zealand.
Trends and Insights
Higher housing prices and rising interest rates have dampened property sales
- Real estate agencies manage residential, retail, industrial and commercial property sales on behalf of consumers and businesses. These services include organising property marketing campaigns, coordinating property inspections for potential buyers, negotiating prices and handling property auctions.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
Property salesProperty leasingProperty managementProperty valuation and other servicesCompanies
HarcourtsRay White (Real Estate) LimitedColliers International New Zealand LimitedPurchase this report to view all 4 major companies in this industry.
Related Terms
OWNER-OCCUPIERSWEB PORTALVACANCY RATELOAN-TO-VALUE RESTRICTIONSIndustry Code
ANZSIC 6720 - Real Estate Services in New Zealand
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
While increased LVR restrictions and government policies have curbed revenue growth, future policy adjustments are set to incentivise long-term investment. The planned rollba...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Soaring house prices and interest rates are driving more households to rent instead of buy, reducing revenue from household owner-occupiers. Even so, the 2022-23 dip in housi...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Housing prices influence the distribution of real estate agencies. In areas like Auckland, high real estate prices contribute to a larger number of agencies.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Price competition plays a major role for buyers in the Real Estate Services industry. Buyers enjoy a plethora of options, and tend to choose agents offering the most competit...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Real estate services are highly fragmented due to the localised nature of market demands. This decentralisation is due to the critical role of geographical knowledge and tail...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Harcourts's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Ray White (Real Estate) Limited's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Colliers International New Zealand Limited's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Harcourts, and factors influencing its performance in the industry
- Description and key data for Ray White (Real Estate) Limited, and factors influencing its performance in the industry
- Description and key data for Colliers International New Zealand Limited, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Fluctuations in residential housing prices directly influence earnings and revenue for real estate agencies. Higher prices contribute to expansion and profitability, while fa...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
While costs for advertising space have increased, revenue growth has outpaced growth in these purchase costs. This is largely due to robust downstream demand in the real esta...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Real Estate Services industry in New Zealand in 2024?
The market size of the Real Estate Services industry in New Zealand is $7.0bn in 2024.
How many businesses are there in the Real Estate Services in New Zealand industry in 2024?
There are 12,433 businesses in the Real Estate Services industry in New Zealand, which has grown at a CAGR of 2.0 % between 2019 and 2024.
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 growing at a CAGR of 4.3 % between 2019 and 2024.
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 market in New Zealand?
The biggest companies operating in the Real Estate Services market in New Zealand are Harcourts, Ray White (Real Estate) Limited and Colliers International New Zealand Limited
What does the Real Estate Services in New Zealand include?
Property sales and Property leasing are part of the Real Estate Services industry.
Which companies have the highest market share in the Real Estate Services in New Zealand?
The company holding the most market share 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.
Related Industries
Widen your competitive advantage with related industries
Competitors
- Land Development and Subdivision in New Zealand
Complementors
- Legal Services in New Zealand
- Commercial Property Operators in New Zealand
- Engineering Consulting in New Zealand
International industries
- Global Commercial Real Estate
- Commercial Leasing in the US
- Real Estate Sales & Brokerage in the US
- Real Estate Appraisal in the US
- Real Estate Asset Management & Consulting in the US
View all industries in New Zealand
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in New Zealand include:
- Statistics New Zealand
- New Zealand Company Register
- Ministry of Business, Innovation & Employment
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
