The Property Council’s annualised quarterly index was down from June to September, but rose in the September quarter compared with a year earlier, just like it did in the March quarter. One very helpful reason for the better look in September is that the March quarter figure was revised downward.
The total annual return on the Property Council’s quarterly commercial property index, produced by IPD, rose to an annualised 13.9% in the March quarter.
The Property Council /IPD quarterly commercial property index showed a return of 12.6% for the year to September.
The quarterly commercial property index compiled by IPD NZ for the Property Council is a movable feast – returns presented in Auckland yesterday show quite different gains a year ago from those presented last year.
The total return on the IPD-Property Council New Zealand commercial quarterly property index rose by a point from the June quarter to 12.4% for the year to September, made up of a 7.9% income return, 4.2% capital growth.
The Property Council’s all property index, run by IPD, showed a total return of 12.4% for the June year, from an 8% income return & 4.1% capital growth.