New Zealand Transaction Monitor Q1 2026

Key points:

• Investment market activity shows a strong recovery.  New Zealand’s total value of investment transactions reached $2.96 billion in H2 2025, the highest since H1 2018 and a 58% increase compared to H2 2024. In addition, there were 138 sales in the second half of last year, the highest number since H2 2021 and 32% higher compared to H2 2024.~ In the $20 million plus price bracket, 38 sales totaling $2.14 billion were 40% and 90% higher, respectively, than in H2 2024.
• The industrial sector led transaction volumes, with 27% of total sales, followed by the ‘other’ category (23%), retail (21%), and office (11%). The largest transaction in New Zealand during this period (as part of the ‘other’ category) involved Spark selling 75% of its data centre business to an Australian managed fund.
• Overseas investors were highly active, with a net flow of $801 million in transactions over $20 million, the highest since H1 2018 and close to 3.5 times the 5-year average.
• Private investors and Other Managed funds dominated the purchaser side for transactions over $20 million during H2 2025.  Corporations (generally owner occupiers and entities who don’t have property investment/development as a core focus) were active as sellers.