22-05-2008

The findings of the fifth ANZ Property Investor Survey were released at the beginning of May. As well as the aspects covered by the media, which are of interest to all property investors, respondents commented on their perception of the value of being a member of a PIA and on what they believed to be the main role of the NZPIF. For 82% of respondents, the main benefit of PIA membership is obtaining information. Networking, education and speakers came next with 59%, 57% and 56% respectively identifying these as very important. I know our affiliated Associations place a great deal of emphasis on networking, education and speakers but I think everyone will agree it will be essential to address the challenge of providing more relevant information in the months to come, especially in today’s market. 

 

National advocacy was selected by 73% of respondents of the survey as being the most important activity of the NZPIF, with 55% selecting information dissemination and 54% provision of property investment education. With the assistance of Thomas Chin, our political lobbyist, we certainly take our national advocacy role very seriously. Andrew King, our Vice President, and I recently had a series of face-to-face discussions with politicians, whose role it is to represent and speak on housing and property investment. We found this an excellent opportunity to put forward the views of the members of the Associations the NZPIF represents and we will continue to nurture this dialogue. Everyone agrees that, in spite of the current delays, the RTA Amendment Bill, together with the Unit Titles Bill, will be introduced to Parliament before the national elections. Associations are also encouraged to build relationships with their local MPs and invite them to their meetings.

 

Recently, I was asked to represent the NZPIF and Associations at a workshop on future social housing. The focus of the workshop was working through various scenarios, and the facilitators indicated that the ideas coming from the exercise would assist in the development of long term planning. It is good to be involved in any discussions of future housing, as eventually property investors will be affected by decisions taken throughout the process.

 

As the housing market slows, we are beginning to see an increase in available rental accommodation. While the numbers of people are delaying the purchase of their first or their next house, the demand for rentals is firm and rents continue to increase. This trend may change if house prices fall sufficiently to stimulate sales again. To monitor this trend, we have started noting the numbers of rental properties listed in the real estate section of Trade Me and on www.realestate.co.nz every week. These numbers will be circulated once a month.