Property Management

Buoyant property investors predict next year to be even better

If this year was good, the next could well be better.

Friday, January 02nd 2004

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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