Commercial yield gap widens over bonds

Brent Melville
Tue, 30 Jun 2020

The return on commercial property relative to New Zealand government bonds has never been higher on the back of record-low interest rates, the result of a decade of loose monetary policy and recent emergency rate reductions. Auckland’s office yield and its spread is the highest in the Asia Pacific, with a 5.8 percent yield for grade-A offices returning a full 500 basis points more than the 0.8 percent yield on the NZ 10-year government bond rate. The distance between yields on bonds and industrial assets, at a spread of 480 basis points,...
Listed Companies
Huljich family sells 25% of Pushpay stake
Dan Brunskill | Tue, 14 Jul 2020

The Huljich family has sold a quarter of its cornerstone stake in Pushpay Holdings, one of the rising software company stars. The 14.4 million shares were sold for $123.8 million, or $8.60 per shar...

Property
Housing market rebounds sharply; caution required
Jenny Ruth | Tue, 14 Jul 2020

The housing market bounded out of lockdown last month with sales volumes the highest for June in four years and prices nationally up 8.6 percent from a year earlier. The Real Estate Institute's lat...

Election 2020
ELECTION 2020: NZ First moves fast to seek political capital from Muller resignation
Pattrick Smellie | Tue, 14 Jul 2020

New Zealand First party leader Winston Peters was quick out of the blocks to issue a statement on the shock resignation of National Party's leader, Todd Muller, this morning. With NZ First polling...

The role of private equity in the wake of COVID-19

As local covid-19 restrictions ease, a new business cycle is beginning in New Zealand.