Corporate foreign exchange news

QBE LMI: NZ property market to climb 11%

Friday, 14 August 2009 09:21:56 GMT

Property prices in New Zealand will climb 11 per cent by next summer, a report from QBE LMI has claimed.
Further results from the group showed that this growth may translate into a 24 per cent rise in average property prices over a three-year period.
However, Dan Johnson, director at TheMoveChannel.com, said that this upward trend may not be evident across the country and growth hotspots may offer particularly attractive returns for investors.
"You have to look into the local dynamics at a very local level before making any purchase decisions ... just because a trend in a country is positive doesn't mean you are going to enjoy growth," he advised.
Similarly, he added that just because a country as a whole is suffering a slump, shrewd-eyed investors may still be able to capitalise on growth pockets.
Mr Johnson went on to identify Christchurch as a keenly watched market, while Auckland is expected to continue to suffer from exposure to demand weakness.ADNFCR-2522-ID-19312597-ADNFCR
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