Market Information and Analysis

TrueCommerical brings you the latest Market Information and Analysis from the commercial property market.

  • Strong demand for office space in CBD

    Strong demand for office space in CBD

    The amount of empty office accommodation within Auckland's CBD has fallen for the fifth consecutive year, reflecting the city's strong economic performance. The latest Bayleys Research CBD office survey has found the overall vacancy reduced to 10.6 per cent - down from 11.4 per cent in January last year.

    Date Jan 2015

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  • High returns on commercial property

    High returns on commercial property

    The return on New Zealand commercial property is now at its highest level since the March 2008 quarter, reports the Property Council of New Zealand (PCNZ). The council’s report says commercial property continues to perform strongly as evidenced by the PCNZ/Investment Property Databank (IPD) New Zealand Property Index results for the quarter ending September 2014.

    Date Nov 2014

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  • Record year for commercial property sales

    Record year for commercial property sales

    The volume of commercial property sales in New Zealand has reached its highest level on record for this time of year driven by greater levels of foreign investment according to commercial real estate agency JLL. “In the year to date, investors have acquired more than $2.8 billion worth of New Zealand’s industrial, retail, and office properties compared with $2.1 billion in the previous year,’ says Nick Hargreaves, managing director for JLL.

    Date Oct 2014

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  • Industrial property favoured as ‘low risk asset’

    Industrial property favoured as ‘low risk asset’

    Industrial property has been identified as the steadiest performer in the commercial real estate market in a report compiled by Bayleys Research. “Industrial property is a sector that is characterised by generally low volatility in key indicators such as vacancy levels, rentals, yields and returns. As such, it has strong appeal for the lower risk, passive investor,” the report says.

    Date Oct 2014

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  • Auckland retail market positive overall

    Auckland retail market positive overall

    JLL Research says improving retail fundamentals along with rising confidence for both retailers and consumers are starting to translate into overall positive movements within the Auckland retail market although rents and vacancy are yet to fully reflect this trend. The agency’s latest Pulse market report says investment yields for retail assets in Auckland continued to move downward during the first six months of 2014 as investor demand remained strong.

    Date Sep 2014

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  • Growing demand in Auckland’s Southern Corridor

    Growing demand in Auckland’s Southern Corridor

    Improving office occupier demand in Auckland’s Southern Corridor running from Newmarket to Ellerslie has driven vacancy levels lower and investors continue to show interest with yields moving lower, says JLL Research. The agency’s latest Pulse report on the Southern Corridor office market says strong interest for new build space in the area has driven further development.

    Date Sep 2014

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  • Auckland CBD office market moves in favour of landlords

    Auckland CBD office market moves in favour of landlords

    Auckland’s office market continues to shine as confidence remains high, says JLL’s latest Pulse market research report on the city’s CBD core and “frame” (surrounding) city areas. The report says robust economic fundamentals and strong trading conditions are filtering into the commercial property market with strong economic data and strengthening business confidence driving office leasing activity.

    Date Sep 2014

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  • Low CBD vacancy pushing occupiers further out

    Low CBD vacancy pushing occupiers further out

    Increased levels of activity and demand for quality in city fringe and suburban locations is putting upward pressure on both rents and yields, says JLL’s latest Pulse research report. “Occupiers have started to look further out of the Auckland CBD for accommodation as vacant space becomes insufficient for larger occupiers and rents rise,” the report says. “Several corporates have expressed interest for new office blocks within the city fringe precinct and stronger demand is expected in the future as office space becomes even more limited in the CBD market.”

    Date Sep 2014

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  • Wellington tenants hesitant about the future

    Wellington tenants hesitant about the future

    Occupier demand in the Wellington office market has resulted in vacancy levels falling but uncertainty surrounding seismic issues and government changes continue to hamper the market, says JLL Research in its latest Pulse report. “Despite this, there is investor interest in anticipation of market improvements,” the report says.

    Date Sep 2014

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  • More sales this year to more foreign buyers

    More sales this year to more foreign buyers

    In the first half of this year just over $2.5 billion worth of commercial property is expected to have transacted in New Zealand at an individual sale price above $2 million, says Chris Dibble, national research manager for Colliers International. “This far surpasses the first half of 2013 when there was an aggregate $1.5 billion of sales,” Dibble says.

    Date Sep 2014

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  • Upbeat report on busy Hawkes Bay commercial property market

    Upbeat report on busy Hawkes Bay commercial property market

    In Hawkes Bay good-quality property investments continue to be keenly-sought and prime property values are generally improved says a property market report compiled by Hawkes Bay based Turley & Co. “Hastings-Napier has seen significant city centres renewal 2011-14, which in the long-term very positive for Hawke’s Bay commercial property, plus major new industrial developments,” the report says.

    Date Sep 2014

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  • North Shore industrial vacancies at pre recession levels

    North Shore industrial vacancies at pre recession levels

    Strong leasing activity in the North Shore precinct has driven vacancy levels back to low levels last seen in 2006, says JLL’s latest Pulse report on the Industrial North. “This year has witnessed strong results for the industrial property sector with re-pricing for prime assets being driven by strong investor sentiment. Strong occupier demand has likewise driven vacancy to levels last seen before the recession,” the report states.

    Date Aug 2014

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  • Secondary property an option for tenants facing record prime shortage

    Secondary property an option for tenants facing record prime shortage

    Vacancy in secondary Auckland CBD office property remains elevated and presents a realistic choice for tenants that are willing to look further afield from premium rated properties says a market report by real estate consultancy JLL. “Prime vacancy has been reached its lowest point ever in the 26 year history of real estate consultancy JLL’s office vacancy survey,” the report states. Overall JLL says the Auckland CBD office vacancy is now at 7.9 per cent falling from 10.5 per cent a year earlier.

    Date Aug 2014

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  • Changing retail trends impact commercial property

    Changing retail trends impact commercial property

    Faced with the rise of internet shopping and huge city fringe shopping centres, independent neighbourhood retailers need to work harder than ever to secure consumer business, says John Church, newly appointed national commercial director of Bayleys Real Estate.

    Date Aug 2014

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  • Auckland CBD premium offices vacancies halved

    Auckland CBD premium offices vacancies halved

    The proportion of Auckland city’s premium or A Grade office space that is empty has more than halved during the first six months of this year.

    Date Aug 2014

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  • City fringe to host most new office development in next supply cycle

    City fringe to host most new office development in next supply cycle

    Ambitious property owners and developers, seeing increased occupier demand as the Auckland office market recover in line with the economic cycle, are looking to meet a growth in demand for office space with new supply both in the CBD as well as the city fringe, says JLL in a research White Paper.

    Date Aug 2014

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  • Retailers Offering Shoppers ‘An Experience’ Do Best

    Retailers Offering Shoppers ‘An Experience’ Do Best

    There are signs of improvement across the retail sector in the Auckland Region, says Bayleys Research in its latest Retail Report.

    Date Jul 2014

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  • New Zealand Property Index still showing good returns

    New Zealand Property Index still showing good returns

    The latest Property Council New Zealand/IPD New Zealand All Property Index showed a total return of 10.4 per cent for the year ending March 2014. This was comprised of 7.8 per cent income return and a positive 2.4 per cent capital growth.

    Date Jul 2014

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  • Confidence in Commercial Property Remains High

    Confidence in Commercial Property Remains High

    The results of the March 2014 quarter Commercial Property Investor Confidence Survey undertaken by Colliers International shows that overall confidence remained high in the first quarter of 2014 with a net positive 28 per cent - only slightly below the record high net positive 31 per cent reached in fourth quarter of last year.

    Date Jul 2014

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  • Sale of Office Buildings Still at Record Levels

    Sale of Office Buildings Still at Record Levels

    The total value of office properties sold for $2 million and over in New Zealand was $1.05 billion in 2013 report Colliers International Research.

    Date Jul 2014

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