The story we’ve been getting wrong

For years, residential property investors have been painted with a pretty blunt brush. “Unproductive.” “Speculators.” You’ve heard it.

So New Zealand Property Investors’ Federation decided to actually test that narrative.

The result? A new report, The Economic Contribution of Residential Property Investors, produced by Infometrics and supported by Opes Partners.

And the numbers don’t quietly disagree. They blow the whole thing open.

Private residential property investors contributed $24.8 billion to New Zealand’s GDP in the year to March 2024. That’s 5.9% of the entire economy.

They also supported 126,000 jobs across construction, retail, finance, trades, and more. Not niche. Everywhere.

Then there’s the day-to-day reality. Maintaining homes. Upgrading them. Funding new builds. Paying for materials, labour, and services. That spending flows through the economy, supporting businesses and livelihoods right across the country.

Zoom out a bit and it makes sense. Property as a whole is already one of New Zealand’s largest industries, contributing tens of billions to GDP and supporting a significant share of jobs nationwide.

This report just brings the residential investor piece into focus.

So no, this isn’t about spin. It’s about putting numbers to something that’s been talked about for years without much evidence.

If we’re going to have a serious conversation about housing, policy, and investment in New Zealand, it should probably start here.

Read the full report
See media release

For media inquiries, contact:
Matt Ball, PR & Advocacy Manager
Phone: +64 21 495 645
Email: [email protected]