Christchurch Office Report | Second Half 2019

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  • Christchurch CBD’s overall vacancy rate continues its more positive trend with less office space available, according to Colliers International’s latest survey. The vacancy rate is now at 16.9%, down from last year’s 20.0% and is expected to tighten as more occupiers return to the CBD.
  • Assisting with a more balanced demand and supply profile and the absorption of existing space is the limited construction of new premises. Currently, there is 1,452 sqm of office space under construction. This is a significant reduction from previous years.
  • Prime rents are showing signs of stabilising at an average of $360 per sqm. Opportunities remain in the suburban office market with growing incentives. Suburban net face rents are at $200 - $260 per sqm and net effective rents (includes incentives) at $170 - $230 per sqm.
  • Investment activity is positive and stable but expected to improve. Colliers International’s latest quarterly Commercial Property Investor Confidence survey reported a higher proportion of respondents expecting office investment conditions to improve over the next 12 months from 16% in Q2 2019 to 18% in Q3 2019. 

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Christchurch Office Report | Second Half 2019

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Chris Dibble

Director | Research & Communications

Auckland CBD

Chris Dibble oversees the delivery of award-winning research reports, PR and Communications for Colliers International New Zealand. With over 13 years of experience and university qualifications in economics, geography, marketing and property, Chris has a  multi-disciplinary approach that assists a broad range of clients in their strategic decision making. Chris is a regular presenter and market commentator with an extensive network of media contacts to discuss the latest insights on current and future property trends. Chris also works with in-house and external writers to curate an audience-focused content delivery strategy for Colliers.

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Gary Sellars

Director, Registered Valuer

Christchurch (Real Estate Management and Valuations)

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