Annual Reports

FY2025 marked a year of recalibration for New Zealand’s economy, and by extension, its property and construction sectors.

With a new government in place, persistent inflation, and muted economic growth, the operating environment was cautious, and investment activity remained constrained. For many in our sector, it was a time of strategic pause and consolidation, as businesses, developers, and households adjusted to shifting policy signals and broader macroeconomic realities.

The once-hopeful post-COVID mantra, “Survive to 2025”, felt increasingly out of reach as the year unfolded. Project suspensions, restructures, redundancies, and a general sense of “battening down the hatches” became more common as economic headwinds gathered strength.

This sentiment was not lost on the Property Council’s management and Board. In response, we made a deliberate effort to tightly manage costs, including the decision to limit membership fee increases, keeping them in line with inflation, while continuing to deliver full value and services to members. This was a challenge, but one we were prepared for, thanks to careful stewardship and the retention of surpluses from prior years.

Looking ahead to FY2026, we remain optimistic.

We’re confident in the resilience of our members and the opportunities that lie ahead for New Zealand’s property sector. With this outlook, we reaffirm our commitment to prudent management and delivering meaningful value to our members – ensuring both our cities and our sector can thrive.

Ngā mihi.

Leonie & Mark