Property Investors Resilient in Slump: Survey
For Immediate Release
Property Investors Show
Resilience in Slump: Survey
Released by Released by www.landlords.co.nz
Property investors are looking for bargains and raising rents, according to the inaugural landlords.co.nz quarterly survey. The results show 20% of those polled intend buying a rental property before the end of the year and 52% aim to increase their portfolio by Christmas 2009.
The nationwide online survey was conducted last week and elicited 600 responses. The survey is designed as a barometer of investors’intentions. Investors were divided about the direction of house prices in the next six months, with 42.5% predicting no change and 47.5% expecting prices to deteriorate. Ten percent of investors were optimistic, saying prices are set
to rise. The survey also showed many investors have managed to raise rentals during a period when the property market has been characterized as being in a slump. Of those polled, 45.7% increased rents in the past six months and 66.5% had put up their rents in the past 12 months.
The biggest percentage of landlords, 38.5%, raised rents by 1% to 5%, while 34% increased rents by 6% to 10%.
Those cutting rents in the past six months amounted to 7.8%, with 75.5% saying they have never decreased rents.
Looking out over the next six months, 28.8% expect rents will rise, 59.3% say they will remain unchanged and 11.8% predict a decrease.
Landlords.co.nz provides news, information and data to residential property investors in New Zealand. The site has a comprehensive listing of mortgage rates, plus users can track house prices and rents in their area. Landlords.co.nz is published by Tarawera Publishing Ltd, which also produces the NZ Property Investor Magazine. This magazine is the only property investment mag in the country.