Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Property investors provide a service and fill the gap

Property investors provide a service and fill the gap.

The census document NZ in Profile 2014 and the findings of the BNZ/REINZ Residential Market Survey hint at a disturbing trend regarding home ownership in this country. Overall the residential market is improving compared with the findings of the previous BNZ/REINZ survey. However, potential first home buyers are still feeling the effects of the Reserve Bank’s LVR policy and many are reluctant to take the first step on to the property ladder. On the other hand, real estate agents are reporting that investor interest is strong and estimated sales to investors stand at over 19% compared with 18.5% nearly a year ago.

The census results show a fall in home ownership rate from 66.9% in the 2006 census to 64.8%. A recent NZPIF study into the cost of renting rather than owning the average NZ home shows that renting makes good financial sense at present. The study conducted for the December 2013 quarter showed that it is currently $138pw cheaper to rent than own the average NZ home. Renting has been cheaper than owning for many years and is another compelling reason encouraging people to choose renting over home ownership.

It is timely that investors are stepping in to purchase residential properties and provide rental homes for those who are unable or unwilling to purchase their own.

“Property investors are providing a service”, said Andrew King, Executive Officer of the NZ Property Investors’ Federation (NZPIF). “Like any other service providers, these property investors know they need to provide good quality homes. It is important that new investors learn about the business of being a landlord. Many of the programmes of the property investors’ associations affiliated to the NZPIF are educational in nature, assisting members to manage their property portfolios for the benefit of the tenants and the landlords. We recommend that more property investors become involved in these programmes.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Trade: NZ Trade Deficit Widens To A Record In September

Oct. 27 (BusinessDesk) - New Zealand's monthly trade deficit widened to a record in September as meat exports dropped to their lowest level in more than three years. More>>


Animal Welfare: Cruel Practices Condemned By DairyNZ Chief

DairyNZ chief executive Tim Mackle says cruel and illegal practices are not in any way condoned or accepted by the industry as part of dairy farming.

Tim says the video released today by Farmwatch shows some footage of transport companies and their workers, as well as some unacceptable behaviour by farmers of dragging calves. More>>


Postnatal Depression: 'The Thief That Steals Motherhood' - Alison McCulloch

Post-natal depression is a sly and cruel illness, described by one expert as ‘the thief that steals motherhood’, it creeps up on its victims, hiding behind the stress and exhaustion of being a new parent, catching many women unaware and unprepared. More>>


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


International Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news