Investec shows housing not dead yet.

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There’s a lot of talk about the housing market of late, prices at 2007 levels, bubbles bursting etc, but if actual housing is not so hot right now, perhaps a property fund is a better choice? Given how the market has reacted to Investec’s latest offering, it seems there’s still some money to be made from “housing”

With an ask of $1.30, traders are so far enjoying around 10% gains as IAP clocks over 2hrs of trade on its opening day on the ASX, currently sitting at $1.42. This may come as little surprise to some, given IAP has been trading on the JSE for some time now.

Investec has simple plans for the future, as outlined in the prspectus - “Following the ASX Listing, the Fund will be dual primary listed on the ASX and the JSE. A dual listing on the ASX and the JSE will provide the Fund with direct access to both the South African and Australian capital markets. Access to a more diversified pool of capital is expected to provide the Fund with greater financial flexibility to grow and diversify its Portfolio and make further real estate asset acquisitions in line with its current investment strategy, subject to its current borrowing policy.”

We expect share prices to continue in an upward fashion, but as always, DYOR.