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 Landlord

Many 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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