Figures
New Zealand Figures Transaction Monitor March 2023
March 14, 2023
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- The New Zealand investment market in H2 continued to be affected by the headwinds of higher interest rates and market uncertainty. Total sales volumes recovered somewhat with an increasing number of lower value, below $20 million, sales. However, there were fewer higher value properties transacting and this led to total transaction values easing somewhat compared to H1.
- Office and retail were the most actively traded sectors in H2. Industrial is the third most traded sector but compared to 2020-2021 has seen the biggest sales volume decline. After a very active 2021, development site sale volumes also experienced a significant fall. On the other hand, the commercial accommodation and aged care/retirement village sectors seen high activity levels.
- Institutional (listed vehicles and managed funds) and private purchasers were the most active buyer category but they were also active sellers. From a net buyer perspective, syndicates were the most active buyer.
- Asian institutional investors continued to dominate the overseas purchaser market in H2 through the acquisition of the YHA hotel portfolio and PAG’s continued activity in the office market.