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Colliers International’s latest quarterly commercial property confidence survey shows that confidence levels across the country have flattened since September.

This follows the positive trend shown in the last surveys in June and September, both up from record lows in March.

Key survey findings:

· Confidence about the next twelve months increased in seven centres and declined in four.

· All three main centres showed increased confidence

· The biggest jump was in Hamilton where, like Tauranga, optimists now outnumber pessimists

· Declines were most marked in Dunedin and Palmerston North.

Alan McMahon, Research Director for Colliers international, said: “The closeness of results in the main centres, and the much narrower band of opinion nationally in December compared to previous surveys, suggests that recessionary pressures are being felt relatively evenly around the country.”

“There are still clouds on the horizon. This pause for breath reflects results in other surveys, which have recently recorded flat or declining confidence. From a property point of view, we ascribe this to a realisation that the optimism of mid-2009 may have been somewhat irrationally exuberant.”

“In Auckland, the only significant change is that industrial property confidence has improved markedly, with both office and retail largely steady. Wellington shows very similar sentiment whereas Christchurch is neutral in all three sectors.”

Colliers’ survey garnered over 5000 opinions, asking what investors and other commercial property professionals think will happen to the market in the next twelve months.

ENDS

Note: The June 09 survey was the first to cover the whole country.

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