Solid and steady
Colliers’ quarterly confidence survey asks commercial property market participants about their views on the outlook for commercial property investment over the next 12 months across New Zealand.
- Colliers’ latest Commercial Property Investor Confidence Survey results showed a net positive 22% (optimists minus pessimists) of respondents expect investment conditions to get better over the next 12 months. This is broadly in line with the last four quarters.
- The survey was undertaken during the release of the Tax Working Group’s Final Tax Report. No distinguishable shift in trends were recorded.
- 10 out of the 12 regions recorded a net positive score.
- Queenstown returned to the top spot after being eclipsed by Tauranga/Mt Maunganui last quarter.
- Napier/Hastings had a standout result with a net positive 24%, the highest on record since the survey began almost a decade ago.
- In Auckland and Christchurch, respondents were most optimistic about the industrial sector, while in Wellington the office sector provided the strongest expectations from respondents.
- The higher proportion of pessimistic responses over optimistic responses for Christchurch provided a net negative score. However, 45% of respondents in both the office and retail sectors were neutral.
- There was a higher proportion of pessimistic responses than optimistic responses for Wellington and Christchurch retail investment conditions ahead, however, 47% and 45% of respondents provided a neutral response, respectively.
- There were 1,598 responses utilised to construct the survey results.