INDEPENDENT NEWS

Property Traders to benefit from new association

Published: Wed 31 Oct 2007 02:11 PM
Media Release
Wednesday 31 October 2007
For Immediate Release
New Zealand Property Traders Set to Benefit from new Association
New Zealanders in the property trading business are set to benefit from the establishment of a new organisation, The New Zealand Property Traders Association [The Traders].
The Traders has been set up by well known property trader Dean Letfus, past Auckland Property Investors Association [APIA] Vice President John May, past APIA board member Garth Melville, and past APIA CEO Ashley Church.
Aiming to provide kiwi property traders with a comprehensive range of services, the new association will offer monthly meetings featuring industry expert guest speakers, free subscriptions to NZ Property Magazine, concessions and discounts on industry relevant products and services as well as endorsing property education seminars.
The Traders Director, Ashley Church, said the group saw a clear need in the property trading arena for a ‘go-to’ organisation to provide neutral support to traders.
 “The property market is in the early stages of a downturn which could last for three or four years – and as such there are likely to be new challenges for traders during this time.
“We want to ensure that this growing group has access to the right information, credible industry education, professional services, market and industry insight and advice and networking opportunities.”
Church explains that The Traders aims to work alongside complementary organisations such as the New Zealand Property Investors Federation [NZPIF] who provide support to property investors.
“It’s important to understand how the property industry in New Zealand is segmented.  There are two groups represented – property ‘investors’ and property ‘traders’.
“Property investors accumulate property by buying one or more properties and hanging on to them – often for many years. Property traders are more likely to be involved in one of three scenarios: buying and immediately on-selling a property; buying and improving a property before selling, or building and selling.
“The Traders aims to represent the latter group, while the NZPIF provides support to property investors.”
Church says an important aspect of the new association is its commitment to working with local and central government to ensure property traders are well represented during times of policy change.
Top of mind is the Inland Revenue’s interest in the industry and stated intention to review the tax treatment of property investment and property trading.
“We want to work alongside organisations such as the IRD to make sure that our group has a voice in times of policy change.  As a key stakeholder we have an important and useful contribution to make to the policy development process.”
Ends

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