A survey shows the proportion of large and full-time property investors who own seven or more properties has grown significantly in the past four years.
The trend has been recorded in the annual ANZ Property Investment Survey run in conjunction with the Property Investors' Federation.
The biggest surge in multiple property investment growth has been recorded in Canterbury.
ANZ head of mortgages Sarah Berry said the survey figures indicate this segment is growing, and has been over the last few years.
This year, 26 percent of respondents reported having more than seven properties.
Sarah Berry said once investors own a property, most aim to hold onto it.
She said the second most common approach is to renovate and then hold onto the property.