Value of property jumps to $26bn for Māori economy – report

11th March 2025 By Paul Yandall | paul@propertyticker.co.nz | @propertyticker

The value of real estate and property services within the Māori economy jumped 58% between 2018 and 2023, according to a new report.

The analysis released on Monday by the Ministry of Business, Innovation and Employment and consultancy BERL, Te Ōhanga Māori 2023 – The Māori Economy 2023, found that property grew over the five years from being worth $16.7bn to $26.3bn in 2023.

The sector was now the second most valuable asset base to the Māori economy, Te Ōhanga Māori, behind only the primary industries of agriculture, forestry and fishing at nearly $40bn.

“While established sectors like agriculture, forestry, and fishing remain strong, we are also seeing diversification and growth in areas such as real estate and property services,” said MBIE chief executive Carolyn Tremain.

“This diversification strengthens the resilience and adaptability of the Māori economy.”

The overall asset base of Te Ōhanga Māori had grown from $69bn in 2018 to $126bn in 2023.

“This growth is driven by various sectors, including real estate property services, and professional services, which now lead the way,” stated BERL in its 56-page report.

“Te Ōhanga Māori diversification and expansion into high-value sectors highlights its dynamic nature and its crucial role in driving Aotearoa New Zealand’s economic prosperity.”

In 2023, there were 1,620 Māori-owned businesses in the real estate and property services sector, employing 7,203 employees.

The analysis also noted that there had been significant growth for Māori-owned businesses in the construction sector.

“After a dip during 2021, the construction sector saw robust growth in the following years. In 2023, there were 5,865 Māori-owned businesses in the construction sector, increasing from 4,251 in 2013.”

The Te Ōhanga Māori 2023 – The Māori Economy 2023 can be read here.