Property is New Zealand’s largest single industry according to a report by economists and research analysts, Urban Economics.
• The 2016 Economic Significance of the Property Industry to the New Zealand Economy report, prepared for Property Council New Zealand, was based on analysis of the property industry’s economic contribution, size, value, and employment numbers.
• According to the report, the wider economic impact of the property industry is significant, with a total contribution of $83.4 billion to the New Zealand economy.
• The value of residential and commercial building stock is $489 billion, more than triple the value of shares and bonds on the NZ stock market at $136 billion.
• The report found that the property industry is the largest industry in New Zealand with a direct contribution to GDP (Gross domestic product) of $29.8 billion or 13 per cent of total GDP. Property’s contribution to GDP is higher than manufacturing, agriculture, and health.
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