Economist: Housing sector makes up 15 percent of GDP

Author
Newstalk ZB,
Publish Date
Mon, 26 Jul 2021, 8:58AM
(Photo / File)
(Photo / File)

Economist: Housing sector makes up 15 percent of GDP

Author
Newstalk ZB,
Publish Date
Mon, 26 Jul 2021, 8:58AM

Little surprise at a new report highlighting the housing sector's increasing impact on the economy.

Analysis commissioned by the Property Council shows the industry makes up 15 percent of our GDP.

It also reveals the sector has grown by $19.6 billion between 2009 and 2019.

Infometrics Senior Economist Brad Olsen told Kate Hawkesby the growth is in line with other data.

“The general economy in New Zealand grew about 25 percent over the same period. So you're seeing property trend in that similar sort of position.”

LISTEN ABOVE