| From Businessday.co.nz: Deals in the commercial property sector have slumped to 20 per cent of last year's levels as Australian institutional investors, who had propped up the market since 2004, bail out of New Zealand.
Deals in the commercial property sector have slumped to 20% of last year's levels as Australian institutional investors, who had propped up the market since 2004, bail out of New Zealand. John Goddard, a director of Colliers International, estimates up to 30 Aussie institutions _ many of them players in the A$1.4 trillion (NZ$1.7 trillion) Australian Superannuation Fund _ bought about $5 billion worth of Kiwi property between 2004 and 2007 in their global search for yield, injecting a much-needed liquidity base to the market..... Full Article: Source
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