Property Institute New Auckland Chair

The New Zealand Property Institute today announced the members of its Auckland branch following recent elections at the branch AGM.

The new NZPI Branch Chair for the 2003/2004 year is Mr Kerry Stewart, of DunlopStewart Limited. DunlopStewart is a leading advisory and valuation company, focusing on property, infrastructure and plant and machinery throughout New Zealand and the wider Pacific region. A Director of DunlopStewart, Mr Stewart has been on the Auckland Branch Committee for several years, previously in the role of membership convenor. He is well known for his particular expertise in the valuation of specialised assets, including airports, ports, breweries, military establishments, utilities, and in the valuation of substantial central government, local government and privately owned portfolios. Mr Stewart regularly undertakes projects throughout the Pacific.

Mr Stewart said today, "The property scene in Auckland continues to be very busy, with property coming back into favour with investors as equities and other investment products have performed relatively poorly. Strong migration levels, lower interest rates and perhaps Auckland gaining corporate jobs from other parts of New Zealand, particularly Wellington, has seen demand continue at strong levels."

Mr Stewart said that while the Americas cup loss may take some wind out of the property sectors sails, he saw this as not being significant in the medium term. "The reality is that the demand factors are still there in most sectors of the market, with or without the Americas Cup. To retain it though, would have been the icing on the cake," he said.

"2003 is also shaping up as a very busy year for the Institute with a good cross section of professions making up our 1000 branch membership. Along with our regular social and educational events, this year will see the Institutes national conference held in Auckland on July 3rd and 4th. I think this reflects the importance that Auckland plays in the property sector. The theme is "Driving Property Forward" and we will see a range of excellent domestic and International speakers."

NZPI CEO Conor English said today, "The New Zealand property asset base is worth over some $420 billion. The New Zealand Property Institutes 3000 members influence the decisions made about that asset base either directly or indirectly. Auckland is of course a pretty important chunk of it, so our Auckland branch is pretty important. Like the Institute, the new Committee members are committed and passionate about property."

More information on the NZPI Auckland branch and its activities can be found at http://www.property.org.nz

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