New Zealand property prices may have moved but it's hardly a property price "bubble," according to investment managers and economists.
Thursday, June 19th 2003, 8:17PM
by The Landlord
A housing price property bubble across the Tasman is not reflected here, they say. Rather, they call the market stable in all sectors - residential, commercial, industrial and retail - thanks to interest rates at a 40-year low, a plunging equities market, a firm labour market, growing population and moderate economic growth in the past few years.
The Property Council of New Zealand Investment Performance Index shows total returns from investment in New Zealand property rose 9.51% in all categories for the year ending March. That figure is just behind the return on bonds at 10.31% and ahead of equities at 0.65%.
