Thursday 9 December
Library 27 Sales Office, 2 Kitchener Street, Auckland
CBRE National Director of Residential Products Gavin Lloyd said New Zealand is ticking all the boxes for immigrants, being voted one of the best places to live, and one of the best places for capital growth. This is fuelling high demand for housing.
These factors mean the current positive climate for property is likely to continue, though for the first time in a long while there are suggestions that the market is cooling. The government’s new LVR rules are having the desired effect and discouraging investors from buying, he said. However, these rules apply only to existing houses, not new builds.
As for the financial markets, investment portfolio manager at Pie Funds Chris Bainbridge said they had shown incredible resilience to the hurdles of 2016, Brexit and the US election result. The outlook for 2017 was for rising inflation worldwide, which will affect the bond markets and the yield frenzy in many local New Zealand stocks.
European instability, with recent political upheaval in Italy and more predicted for France over its election period, suggested there will be more volatility in 2017.
Art investor and award-winning architect Ron Sang spoke about art collecting and how he used any spare money to buy art he loved – until his house was bursting at the seams. When he finally sold part of his collection, some art pieces had increased in value by ten times.
While waiting for his investments to increase in value, he said he would much prefer to look at a beautiful painting than a share certificate.