Date Posted: Dec 12, 2011
This month we update our last twelve months history, and our next twelve months forecasts of rental and capital value growth for Christchurch, Wellington and Auckland. They show that the bottom of the market has been well and truly reached, with mostly either flat conditions or modest declines in values recently. The exception is Christchurch industrial rents which have performed strongly. For 2012, we expect a robust recovery in industrial values in the Auckland and Christchurch industrial markets, with zero or modest increases elsewhere, exception in Wellington retail where a further decline is expected. Vacancy in general is trending down and we predict that it will continue to do so over the next year in most markets. The detailed Auckland metropolitan office vacancy table on page two underlines this trend.
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