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Bernard Hickey delivers an investing report in association with BNZ, including a look at the performances of various types of assets over the last decade. It shows that some commodities, including copper and gold, did better than just about everything.
But housing performed very well in New Zealand over the last decade. It performed 70% better than the NZX over the decade, although most of that outperformance happened in 2008 and 2009 when the stock market fell sharply and house prices fell only 10% or so. Housing also did better than silver and platinum, and significantly better than money in a bank term deposit account.
But, of course, past performance is no guarantee of future performance. But it does show some commodities have done very well, since 2005 at least. The chart is below:
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