There's comforting and worrying news in a recent survey of property investors. Example: The majority have had at least six years experience in property, and 57 per cent have more than ten years.
Sunday, May 30th 2004, 7:54AM
by The Landlord
"These people have been through the economic cycle and were investors in the late 1990s, when returns from property were lean," says David Drage, economist with ANZ Bank, which carried out the survey with the NZ Property Investors Federation.
That's great. But it still leaves lots of newcomers. I hope they don't panic and bail out when the market slows down again.
And when I say "lots" I mean it. The Federation says there are about 300,000 landlords in New Zealand, "and that figure is expected to grow as the percentage of people owning their own home decreases."
Crunch a few numbers, and we find that about one in eight New Zealanders over 30 owns rental property.
