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Highlights
- Lately, the Kiwi nation is noticing a rise in its new home consents.
- Property for Industry reveals that T&G Global would sell its property to it, settlement of which would be done by mid-November.
- Kiwi Property Group to announce its interim results on 22 November.
New Zealand witnessed a record 47,331 new homes consents for the year ended September 2021, a jump of 25% on pcp.
While in Auckland, new homes consents were recorded at 19,886, Canterbury and Waikato reported 7,379 and 4,968, respectively, for the said period.
Further, another interesting fact which was revealed by Stats NZ was that for the year ended September 2021, a 7.4% rise was seen in the number of new home consents per 1000 residents, i.e., the figure now clocks 9.3%.
Amid this backdrop, let us get acquainted with the five NZX-listed REIT stocks.
Image source: © 2021 Kalkine Media New Zealand Ltd, data source- EODHD/Others
Property for Industry Limited (NZX:PFI)
The first REIT stock on the list is Property for Industry Limited. Recently, the Company revealed that T&G Global had sold its Whakatu West site-based property to it.
T&G sold the said property to free up its capital to support its growth strategy.
Related Read: 5 NZX REIT stocks amid rising housing prices
The acquisition is likely to be completed on 15 November.
On 3 November, at the time of writing, Property for Industry rose 0.17% at NZ$2.915.
Kiwi Property Group Limited (NZX:KPG)
Next on the list is Kiwi Property Group Limited, which is NZ’s prominent real estate-based company. On 22 November, it will announce its half-year result ended 30 September 2021.
Further, a live webcast is also being scheduled for the investors, analysts, as well as for the media.
On 3 November, at the time of writing, Kiwi Property Group declined by 0.87% at NZ$1.145.
Do Read: How are 5 NZX REIT stocks faring amid falling rents?
Argosy Property Limited (NZX:ARG)
Argosy Property Limited holds a huge portfolio of office, industrial and retail properties across the country. The Company will release its 1H22 interim results ended 30 September on 223 November.
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Financial statements, as well as presentation slides, would also accompany the said results, followed by a conference call.
On 3 November, at the time of writing, Argosy Property was up by 0.65% at NZ$1.550.
Asset Plus Limited (NZX:APL)
Another NZ-based commercial property investment company is Asset Plus Limited. Recently, it notified its stakeholders that the settlement date for the sale of its Eastgate Shopping Centre had been scheduled for 1 April 2022.
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The changed date would result in a slight increase in its FY22 earnings.
Also, construction activities have resumed at Munroe Lane as Auckland alert levels changed to level 3.
On 3 November, at the time of writing, Asset Plus traded flat at NZ$0.330.
Stride Property Ltd & Stride Investment Management Ltd (NZX:SPG)
The last REIT stock on the list is Stride Property Ltd & Stride Investment Management Ltd.
In its virtual ASM, resolutions were passed by both its groups- SPL and SIML to empower their directors to determine the fees of PricewaterhouseCoopers as their auditors.
Further, SIML also passed a resolution to increase the directors’ remuneration.
On 3 November, at the time of writing, Stride Property Ltd & Stride Investment Management fell by 0.43%, at NZ$2.29.
Related Read: 5 NZX REIT stocks amid RBNZ’s tightened LVR restrictions
Bottom Line
An increase in new home consents indicates that more buyers are willing to purchase new properties even as the NZ Government strives hard to make residential housing affordable.