Commercial

Investors keep their chins up

Institutional investors in New Zealand's blue-chip commercial property market remain upbeat, a survey shows.

Sunday, October 10th 2004

This year's Ernst & Young Real Estate Investor Survey is based on the responses of 11 unnamed institutional investors the report describes as together holding "a substantial proportion of New Zealand's property stock."

The investors were asked to indicate what annual income and total return they expected on investments for the financial year ending June 2005.

When completing the survey, investors were to assume the following investment conditions: rents at market rates, minimal vacancies, medium- to long-term leases and minimal short- to medium-term capital expenditure.

Figures generally show a continued firming of yields and total returns.

This is in spite of expectations of an imminent economic slowdown and a perceived peaking of the property market.

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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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