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

 

Capital growth continues for commercial property markets


IPD PRESS RELEASE PCNZ/IPD New Zealand Property Index 22 August 2012

Capital growth continues for New Zealand’s commercial property markets

Auckland, 22 August 2012

Overview

The PCNZ/IPD Commercial Property Index provides a measure of investment market performance across office, retail and industrial property sectors. The index is comprised of data from 20 participants, representing 25 funds/portfolios with 575 assets worth cNZ$10.3 billion representing c65% of the total New Zealand property market. The index details income return and capital growth on a quarterly basis. The index also provides pricing and market metrics such as capitalisation rates, discount rates and capital values.

PCNZ/IPD Property Index Performance – June 2012

Released today, the index recorded a second consecutive quarter of annual capital growth in three years of 0.3% for the broader New Zealand property market. Annual income return was 8.2% which resulted in a total return of 8.5% for the year to June 2012. The result represents a mild strengthening in annual return in comparison to the previous quarter of 8.4% but is still lower than the long-run total return of 10%. Figure 1 shows rolling annual nominal total return split by income and capital return. The chart shows the upswing in commercial property and the first annual period of positive capital growth. 8.5% -15% -10% -5% 0% 5% 10% 15% 20% 25% 30% Jun-07 Jun-08 Jun-09 Jun-10 Jun-11 Jun-12 Total return for direct commerical property rolling annual return on quarterly periods to June 2012 Capital return Income return Total return Long-run average Source: IPD Research. Note: direct property returns based on PCNZ/IPD Index.


Full Release

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Auckland Airport: North American Touch Downs Make AA Most Connected In Australasia
The return of American Airlines, the world’s largest airline, announced today has cemented Auckland Airport’s title as the Australasian airport with the most non-stop connections to the United States and Canada... More>>



Reserve Bank: Monetary Conditions Tighten By More And Sooner

The Monetary Policy Committee today increased the Official Cash Rate (OCR) to 2.0 percent. The Committee agreed it remains appropriate to continue to tighten monetary conditions at pace to maintain price stability... More>>


The Download Weekly: Vodafone FibreX back in court

Vodafone and the Commerce Commission head back to court over FibreX in a week the TCF issues broadband marketing codes that should avoid similar problems in the future... More>>



Kiwibank: Savers To Benefit From Higher Returns Following OCR Rise

Following market movements Kiwibank is pleased to increase the interest rate and rates of return on its savings accounts... More>>

Fonterra: Provides 2022/23 Opening Forecast Farmgate Milk Price & Business Performance Update
Fonterra today announced its 2022/23 opening forecast Farmgate Milk Price and provided an update on its third-quarter performance... More>>


Stats: Quiet Start For Retail In 2022
The volume of retail sales was relatively unchanged in the March 2022 quarter, following a strong increase in the December 2021 quarter, Stats NZ said today... More>>