Better result for Kiwi Property as it 'overcomes' worst of high interest rates

Better result for Kiwi Property as it 'overcomes' worst of high interest rates
The opening of its Resido build-to-rent development is a milestone for Kiwi Property.
Maria Slade
Sylvia Park owner Kiwi Property has reported a much improved net loss after tax of $2.1 million for 2024, thanks to stabilising property values.This compares to a net loss of $228m in 2023.The commercial property operator booked a net fair value loss of $77.8m on its $3.2 billion portfolio for the year to March 2024 versus a $352m revaluation downwards the prior year.Chief executive Clive Mackenzie said that the fair value of Kiwi Property’s portfolio had overcome the highest interest rate environment to hold firm and...

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