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NZ commercial property returns continue to slide
Melbourne, 27th February 2009: IPD has released the Property Council / IPD New Zealand Property Index for the 12 months to December 2008. According to the index, total returns for direct property investment stood at 9.4%, down from 22.4% over 2007.
The primary catalyst for the fall was a decline in capital returns, down to just 2.1% in 2008 compared with 13.7% over the previous 12 month period. Income returns weakened marginally to 7.2%, from 7.7% in 2007.
ENDS
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