House Prices

Shares beat property: FundSource

Managed fund research house FundSource says forget all the hype about property, New Zealand shares are a better investment.

Monday, September 27th 2004

Numbers the company have crunched show that local shares have outperformed property at every point during the past 18 months.

“This result may not come as news to many,” Fund Source general manager Tim Anderson says.

While shares have given investors a better return than property in the past 18 months, FundSource believes this situation will continue looking forward.

“FundSource believes near term expectations for NZ equities continue to outstrip property.”

Anderson says what also may surprise people is the margin which shares have outperformed property.

Since March 2003, nationwide house prices have recorded gains of around 25%. In particular, on the basis of the latest Quotable Value NZ index – the official NZ house price measure - house prices until the end of the June 2004 quarter have risen by 25.6%.

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Heartland Bank - Online	6.69
SBS FirstHome Combo	6.74
Wairarapa Building Society	6.95
Unity	6.99
Co-operative Bank - First Home Special	7.04
ICBC	7.05
China Construction Bank	7.09
BNZ - Classic	7.24
ASB Bank	7.24
ANZ Special	7.24
TSB Special	7.24

Unity First Home Buyer special	6.45
Heartland Bank - Online	6.45
TSB Special	6.75
Westpac Special	6.75
China Construction Bank	6.75
ASB Bank	6.75
ICBC	6.75
AIA - Go Home Loans	6.75
Kiwibank Special	6.79
Co-operative Bank - Owner Occ	6.79
ANZ Special	6.79

ASB Bank	6.39
Westpac Special	6.39
AIA - Go Home Loans	6.39
China Construction Bank	6.40
ICBC	6.49
SBS Bank Special	6.55
Kiwibank Special	6.55
BNZ - Classic	6.55
Co-operative Bank - Owner Occ	6.55
TSB Special	6.59
Kainga Ora	6.99

SBS FirstHome Combo	6.19
AIA - Back My Build	6.19
ANZ Blueprint to Build	7.39
Credit Union Auckland	7.70
ICBC	7.85
Heartland Bank - Online	7.99
Pepper Money Essential	8.29
Co-operative Bank - Owner Occ	8.40
Co-operative Bank - Standard	8.40
First Credit Union Standard	8.50
Kiwibank	8.50