Confidence soars to new high
Wednesday 4 February 2004
Rising house prices and better fortunes in the sharemarket have pushed investor confidence to all-time highs, the ASB Bank says.
By The LandlordIn its latest survey of investor confidence, out today, investor confidence was up 7 percentage points to 24 per cent, the highest point since the survey began six years ago. One in three people interviewed expected better returns on their investments in 2004 compared with 2003, it said.
"For over a year, rising house prices have buoyed investor confidence and this appears set to continue for at least the next few quarters of 2004," said James Mitchell, ASB Bank's head of relationship banking.
Wellington house prices were up 18 per cent in the past year, according to recent Real Estate Institute figures, with some markets such as Nelson, even stronger.
Read More - Opens in a new window
Commenting is closed
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.
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.