05 settembre 2008

«IPD today announced the results of the Property Council / IPD New Zealand Property Index for the 12 months to end June, 2008. Investors earned a total ungeared return from commercial real estate investments of 13.5%, a significant drop from the 24.1% return achieved for the same period a year earlier.

The main driving factor for the slowdown in returns was the fall in the capital growth rate to 5.9% in the year to June 2008. Income return for the 12 months was 7.2%. Over the longer term however, the New Zealand property investment market still appears more resilient than many others, with a 5-year total return of 17.6%.

Moreover the total return from investment property still managed to outstrip returns from both New Zealand equities and bonds by a comfortable margin. The NZX All Ordinaries Equities Index returned 8.7% on an annualised basis over 5 years, whilst the CSFB NZ GS Bond Index returned 5.1% over the same period.

New Zealand CBD Offices were once again the top performer, with a total return of 14.7% for the year, whilst the broader Industrial index returned 12.5%. New Zealand Retail was the worst performer earning investors an ungeared total return of 12.4%» (CS della Società).