Banking on houses
Sunday 30 May 2004
Being a property investor may sound unwise with all this talk of an impending crash, or at least a market downturn.
By The LandlordMany see property investors as people who want to make a fast buck. But that impression isn't an accurate portrayal of the average investor.
A survey by the New Zealand Property Investors Federation and ANZ Bank shows property investors are a professional bunch. And although they like the do-it-yourself approach, they are very experienced.
The survey, one of the biggest of property investors in New Zealand, was designed to gain further understanding of investors, the profile of portfolios held and the investment purchase process.
Federation president Craig Paddon says New Zealand has about 300,000 landlords and that figure is growing as fewer people own their own homes.
Former ANZ Bank chief economist David Drage says one fascinating factor is the amount of experience in the industry.
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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.