Investors' confidence in rental returns from residential property is up and looks like it will keep climbing in the coming year, a just released survey shows.
Saturday, July 19th 2003, 11:45PM
by The Landlord
The ASB Bank quarterly investment confidence survey found 21 per cent of investors in the three months to June preferred rental property, saying it provided the best returns.
ASB spokesman James Mitchell said of those who owned residential rental property, 68 per cent were expecting a better return from it this year.
"A continued belief in housing is likely for some time, particularly as New Zealand's strong migration flows continue, interest rates continue to fall and supply continues to lag behind the demand for housing," he said.
But over the coming year there was likely to be a more cautious approach to property investment, with other options being investigated, Mr Mitchell said.
