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Surviving the downturn

Friday, August 1st 2008, 1:09PM 1 Comment

by Philip Macalister

The August issue of the NZ Property Investor magazine takes an in-depth look at what Kiwi investors can do to ride this current storm out. I say co-incidentally, but in reality the aim of the magazine is to help investors manage their properties successfully.

What surprised me a little with this article is how many different things investors can do to ride out the storm.

Sure, one is to sell up and maybe take a loss, therefore limiting future losses. However, I reckon there is a good argument for trying to hold on. Over the years of publishing the NZ Property Investor I have heard plenty of stories where people have toughed it out through difficult markets and been thankful they have done so.


We know markets go in cycles and once we get through this part of the cycle, things will be on the up again.

When that will happen I don’t know – and it would be foolish to predict. As readers of my Blogs will know I am cautiously optimistic for the medium term, which is very different to the heavily bearish comments often published in the media.

Another reason to be weary of selling up is simply the supply and demand equation. Figures I have seen show that there is an increasing number of rental properties being put on the market for sale. Thinking back to the basic rules about supply and demand, I would suggest that selling into this market could end up with a pretty poor result. (If you are on the other side of the deal and buying, it’s a totally different story.)

If you want to find out some ideas on how to survive this downturn then make sure you pick up the latest copy of the NZ Property Investor magazine.
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Comments from our readers

On 1 August 2008 at 9:55 pm Errol said:
If you can, tough it out. Now is not the time to sell, now is the time to buy. There are bargins to be had and there will be more to come. Cashflow positive properties with potential are starting to come on to the market, I have not seen these for a long long time, I see this downturn as an opportunity to take your time and buy, knowing that you are probably one of the few. This gives you plenty of choice and plenty of time to make the correct decisions that will carry you through to a more stable market and in the long term build asset wealth .
Remember Solomon, "This too will pass"
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Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 4.05 4.49
ANZ Special - 3.55 3.55 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
BNZ - Classic - 3.49 3.55 3.89
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 ▼4.65 ▼4.80 -
HSBC Premier 5.24 3.54 3.54 3.69
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.97 4.05 4.39
Kiwibank ▼5.15 4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 ▼4.45 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 ▲3.55 3.89
Sovereign 5.30 3.89 4.05 4.39
Sovereign Special - 3.39 3.55 3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.19 4.35 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.39 3.55 3.89
Wairarapa Building Society ▼5.50 ▼3.95 ▼4.05 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.55 3.99
Median 5.34 3.97 4.05 4.39

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