Forum Archive Index - October 2000

["Phyllis Taylor" <phyl@clear.net.nz>]

And some apartments are going going got to go at a very low price in
Auckland!!!!!!!!!
Phyllis
----- Original Message -----
From: michgore <michgore@i4free.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Wednesday, October 04, 2000 2:59 PM
Subject: [sharechat] Capital Properties


> 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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