Property key to Kiwi aspirations

Last updated 12:32 16/01/2014

The Kiwi property dream

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Most New Zealanders are saving or plan to save for a first home or to upgrade to a more expensive property to reach their financial goals, a new survey says.

Researcher Nielsen's internet survey, the Global Survey of Saving and Investment Strategies, found that of the 500 people who responded, 64 per cent said they would reach their financial goals.

More than 30 per cent had no confidence they would meet their goals.

The survey asked participants about their saving or investing intentions, including saving for retirement, household emergencies, to leave a financial legacy or to buy a home.

Just over half said they were saving for a house or planned to save for a "first-time main home property" purchase to help meet their financial goals.

More than half said they were saving or planned to save for a property upgrade.

A further 41 per cent were saving or intended to save for a second home or holiday home.

A similar number said they were saving for retirement or planned to save for their retirement.

Nielsen New Zealand managing director Rob Clark said the number of New Zealanders saving for retirement was ahead of the global average of 35 per cent.

More than 35 per cent were saving for unexpected household emergencies and 21 per cent were saving for their children's future.

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- Fairfax Media

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