Investments
Has property had its day in the sun?
Friday 6th of December 2019
Carlie, before we look at how the property market has been going tell us a little bit about yourself, the role you have at Mint and what you do in your spare time.
My role at Mint includes managing the listed property funds and researching the property, building, retail and consumer sectors. I have been at Mint for over 13 years now, with the earlier part of my career spent at Goldman Sachs JBWere, GE Capital (London) and Kiwi Property Group.I have two teenage children who keep me busy outside of work.
Looking at property, it has had an incredible run over the past few years, much like domestic equities, however the last 12 months have been stellar. What have been the key contributors to the performance and what’s driving the sector?
Over the last 10 years (to the end of November 19) the NZ listed property sector has returned 13.2% p.a., which is similar to the S&P/NZX 50 performance. Over the last year the property sector performance has been particularly strong with a return of 30.0%, ahead of the S&P/NZX 50 return of 28.2%.The key driver of this out-performance has been the low interest rate environment, with investors seeking higher yielding and more stable investments.
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