Listed property firms kickstart sales recovery after $2b covid hit

Wed, 07 Oct 2020

New Zealand’s covid response cost the commercial property market $2 billion as investors jumped out of the way of the pandemic, but there are glimmers of life as listed property firms move back in to rebalance their portfolios.Property brokerage firm Colliers International said pre-covid commercial sales volumes had been odds-on to reach $9.5 billion for the 12 months to June 2020, approximately 3.5 percent ahead of 2019 numbers, based on the level of transactions heading into 2020.Instead, commercial sales volumes slowed to a trickle, wi...

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