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 Landlord

That 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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