House Prices

Investors' confidence rises with sharemarket

The 24 per cent rise in the New Zealand sharemarket's top 50 companies index over the past year is keeping market investors' confidence high - as high as property investors.

Tuesday, October 19th 2004

The ASB Bank investor confidence survey out today has topped a net 20 per cent positive for the second quarter.

Confidence levels are only just below the 24 per cent net positive peak at the end of last year.

Never before has investor confidence stayed above the net 20 per cent mark for more than one quarter.

Investors had had high returns across a range of asset classes in the past 12 months, the bank said.

High returns had a "natural tendency" to curb immediate future expectations, so the level of confidence was "extremely encouraging", said James Mitchell, the bank's head of financial services.

"It also has to be seen against the backdrop of widespread talk of a New Zealand economy about to slow and concerns about the effect of high oil prices on the global economy," he said.

Some economists expect the economy to grow a strong 5 per cent this year but then slow down sharply to about 2 per cent next year, hit by rising interest rates and oil prices, a high dollar and slower migration.

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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
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 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
ASB Bank 6.55
AIA - Go Home Loans 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

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