Property investors get a bad rap and yet nearly half of New Zealanders believe property is the best way to generate wealth for retirement, according to KiwiWealth’s first State of the Investor Nation survey. The survey looks at New Zealander’s perceptions of wealth and wealth creation.
79% of the 2,101 survey respondents have some form of investment savings, with the median investment portfolio worth $27,000.
The most popular asset classes to invest in were Kiwisaver (69%), savings accounts (62%) and term deposits (34%).
Yet the asset class that New Zealanders think will generate the most wealth for retirement is residential property, with 46% of respondents putting it first.
New Zealanders have the most wealth tied up in residential property with the median investment value of $500,000.
Among investors, 60% are confident in the property market.
Despite the signs of a cooling housing market, 80% of respondents expect house prices to continue rising in the next 12 months.
Wellington: 91% believing that house prices will keep going up in their region.
Auckland: 72% saying that prices would continue on an upward trend.
Christchurch: 77% confidence, followed by regional New Zealand at 83%.