Forum Archive Index - October 2000

[michgore <michgore@i4free.co.nz>]

Hi Everyone,
I sold up my Capital Properties shares a month or so ago at 86 cents.  I
was disheartened to see this share rise to 94 cents almost immediately
afterwards but then also watched it drop to 82 cents last week.  A
property stock shouldn't be so volatile, should it?  Last week there was
a news item about their having signed up two new long term leases, well
I suppose that's got to be good news but the news item quoted their
director saying that this was a sign of the positive demand for office
space in Wellington.  I don't know too much about the commercial
property market but this would not seem to be the case if you stroll
around Wellington City and check out all the “To Lease” signs.  And
there was all the news not long ago about how they chose to account for
the downgrade of their building valuations.  Is this just another
company Director trying to talk up his share price?  David McEwen last
week rated this one a sell at 84 cents, what do chatters think?  At what
price would it become a bargain?
I'm also wondering about the growth of residentiol apartments in central
Wellington.  Have aparments become affordasble because of a lack of
demand by Commercial tenants?  Given that we have negative population
growth, new homes being built, and a move of residential into the city,
then what does this do to house values in a place like, say Miramar?  I
heard on the news that Wellington houses have been rising in value
against the national trend.  I can't understand why this would be.
Sorry if I have too many questions.  Regards michael


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