Christchurch investors are the most positive
Christchurch's commercial property investors have been confident of their fortunes improving since the earthquakes struck.
For the past 2 1/2 years they have been optimistic of their assets bringing good returns, according to a regular nationwide investor confidence survey from the researchers at real estate firm Colliers.
Nationally confidence rose to a 31 per cent excess of optimism over pessimism in the past three months, up from 25 per cent over the previous three months and 11 per cent a year ago. This is the highest level since the survey started in June 2009.
Investors in Christchurch and Auckland were the most positive with both recording an excess of optimism over pessimism of 60 per cent.
Wellington investors recorded a positive result for the first time in several years, while those in Queenstown, Tauranga, Hamilton and Nelson were also optimistic.
Dunedin investors were just in positive territory, while investors in Napier-Hastings, Whangerei and Palmerston North were pessimistic.
Seven of the 11 centres surveyed were more positive than the previous quarter.
In the three main centres, industrial landlords were the most confident, with office investors second and retail investors close behind.
The survey was based on over 3850 responses.
Figures from the Property Council have shown that industrial property owners, especially in Canterbury, are making the best returns on their investments.
The latest Westpac McDermott Miller Consumer Confidence Index was as its highest level since the first signs of the economic recovery in September 2009, with people the most upbeat about their finances for six years.
- © Fairfax NZ News