Confidence bounce back
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.
Highlights of our June 2019 quarter Commercial Property Investor Confidence Survey:
- Colliers’ latest Commercial Property Investor Confidence Survey results showed a net positive 26% (optimists minus pessimists) of respondents expect investment conditions to get better over the next 12 months. This was the second highest result in 2.5 years
- This is only the second time in 5.5 years that all 12 regions surveyed
recorded a net positive score.
- Tauranga/Mt Maunganui returned to the top spot after being eclipsed by Queenstown last quarter.
- In Christchurch, respondents’ confidence in the Industrial sector resumed its growth trajectory, now at a net positive of 32%.
- In Auckland and Wellington, respondents were most optimistic about the industrial sector. Auckland recorded the highest net positive rate (70%) since June -16 quarter and Wellington (57%) since the survey commenced.
- There was a higher proportion of optimistic responses compared to pessimistic in Christchurch resulting in a small net positive score of 0.4%. Also, almost half of the respondents provided a neutral response, indicating stabilised market conditions.
- 40% of respondents stated they intended to invest more now that the capital gains tax recommendations by The Tax Working Group were rejected by the coalition government. There were 1,671 responses utilised to construct the survey results.