Rising interest rates take shine off listed property stocks

Rising interest rates take shine off listed property stocks
Precinct Properties opened its first Generator offices in Wellington at 30 Waring Taylor St last month. (Image: supplied)
Brent Melville
Listed property sector stocks were down 3.2% last month, on the back of both weaker than expected reporting and as rising bond yields begin to weigh on investor demand for listed real estate.While none of the 10 property vehicles (LPVs) were left unscathed, the downward trend was led by diversified commercial investor and manager Stride Property, which saw its share price lose 11.4%, Forsyth Barr says.That was after it announced a $120 million equity raise at an 11% discount to the previous close, aimed at lowering its gearing levels.Big box re...

More Property

Govt to ‘flood’ cities with more housing by liberalising planning rules
Property

Govt to ‘flood’ cities with more housing by liberalising planning rules

Housing Minister Chris Bishop will on Thursday unveil the Government’s plan to “flood the market’ with land for development in a bid to end New Zealand’s housing crisis.Bishop will use a speech to the Real Estate Institute of New Zealand today to announce a slew of changes to NZ’...

Staff reporters 04 Jul 2024
Anglicans get permission to demolish Parnell lodge
Property

Anglicans get permission to demolish Parnell lodge

The property is across the road from one of the most luxurious developments in NZ.

Oliver Lewis 04 Jul 2024
Property operator will negotiate with Italian restaurateur
Property

Property operator will negotiate with Italian restaurateur

Stride's CEO says the landlord won't be silly over a lease dispute with Portofino.

Maria Slade 03 Jul 2024
Death of Fiji plot accused leaves Karaka subdivision up in the air
Property

Death of Fiji plot accused leaves Karaka subdivision up in the air

Records for the project company are nowhere to be found after Ballu Khan's passing.

Maria Slade 03 Jul 2024