Buoyant property investors predict next year to be even better
Friday 2 January 2004
If this year was good, the next could well be better.
By The LandlordThat is the forecast of property prophets who see pent-up demand sparking yet another great year for commercial, retail and industrial property.
Although a modest interest rate increase and changes in the education industry might put a slight dent in the sector, owners and consultants are not forecasting any significant downturn.
An executive at New Zealand's largest landlord - Kiwi Income Property Trust, which controls about $900 million worth of property - is confident, particularly about prime office blocks.
Kiwi's commercial portfolio manager, Jon Lesquereux, reckons the two years will be almost the same but lower-quality office buildings, particularly in Auckland, might suffer.
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There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.