Managed fund research house FundSource says forget all the hype about property, New Zealand shares are a better investment.
Monday, September 27th 2004, 8:25AM
by The Landlord
Numbers the company have crunched show that local shares have outperformed property at every point during the past 18 months.
“This result may not come as news to many,” Fund Source general manager Tim Anderson says.
While shares have given investors a better return than property in the past 18 months, FundSource believes this situation will continue looking forward.
“FundSource believes near term expectations for NZ equities continue to outstrip property.”
Anderson says what also may surprise people is the margin which shares have outperformed property.
Since March 2003, nationwide house prices have recorded gains of around 25%. In particular, on the basis of the latest Quotable Value NZ index – the official NZ house price measure - house prices until the end of the June 2004 quarter have risen by 25.6%.
