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.
Read More - Opens in a new window
Commenting is closed
It’s full steam ahead for the Stevenson Group’s $800 million, 361-hectare industrial and residential development in South Auckland – despite the uncertainties of the post-Covid-19 era.
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.
Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.