New Zealand Transaction Monitor Q3 2024

This report explores the key trends and insights from New Zealand’s commercial investment market in H1 2024. It highlights the most active sectors, the roles of private and institutional investors, and the resurgence of overseas investment. Below are the key findings.

Main points:

• In H1 2024, the total value of commercial investment transactions in New Zealand reached just over $1 billion across 63 sales. This is about half of the past decade’s average and is the lowest six-monthly value total since 2013.
• The industrial sector was the most active during H1 2024, showing more robust activity compared to previous periods.  Industrial was followed by retail, office and development site/land sales.
• Private investors, both as sellers and buyers, were the most active during H1 2024.  Privates, along with institutional investors, were also net sellers for transactions over $20 million.
• Longer-term cumulative net investment volume is led by institutional investors and syndicates.  Since 2007, institutions have accumulated $3.6 billion, syndicates $3.5 billion.  Institutions also lead gross investment, with $18.8 billion of purchases since 2007, followed by privates at $14.7 billion.
• Overseas investment activity returned to net positive territory during H1, albeit registering more modest levels compared to previous periods.