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Commercial property investor confidence at two year high

Willis Bond Cuba Precinct

Confidence at a net positive 26 per cent nationally, with an uptick for retail

Investor confidence in New Zealand’s commercial property market is at a two-year high, new research shows.

Colliers International’s latest quarterly survey found national commercial property investor confidence reached a net positive 26 per cent in the December 2018 quarter.

Ten out of the 12 regions surveyed recorded a net positive score (optimists minus pessimists).

Confidence is particularly strong in Tauranga/Mt Maunganui, which has eclipsed Queenstown in investor confidence for the first time in almost four years.

Tauranga/Mt Maunganui had the highest net positive score at 57 per cent, up 6 percentage points from 51 per cent the previous quarter.

Queenstown slipped to second place after topping the survey for the last 15 consecutive quarters.

Confidence dipped to net positive 46 per cent, down 11 percentage points from 57 per cent the previous quarter.

The top five was rounded out by Wellington (41 per cent net positive) and Auckland and Nelson (39 per cent each).

Simon Clark, Managing Director of Colliers International Tauranga, says the results reflect Tauranga’s ongoing growth.

“Both Tauranga and The Mount are experiencing a major commercial property boom. 

“There’s record low vacancy across all the key commercial sectors – office, retail and industrial – which is driving down yields and pushing up rents.

“Investors see Tauranga as being more affordable than Auckland but offering equally strong fundamentals and returns.”

Nationally, retail property sentiment appears to be gaining positive momentum. 

Colliers International’s Director of Research and Communications, Chris Dibble, says retail has risen from a net negative rating to a net positive 4 per cent nationally.

“We saw a big uptick in confidence in Wellington’s retail sector in particular. Confidence increased from a net positive 12 per cent last quarter to 25 per cent in the latest quarter.”

Dibble says the industrial sector continues to flourish.

“Industrial is at an almost three-year high, at 46 per cent net positive nationally – the best result since the March 2015 quarter.

“All three main regions posted a positive gain in confidence relative to a quarter ago.” 

Dibble says it is much of the same story for the office sector.

“A net positive 29 per cent for the three main regions was recorded, up from 26 per cent last quarter.”

Dibble says investors voice government policy as one of the largest influences on investment performance. Not far behind is the health of economic conditions internationally. 

Colliers International’s latest quarterly Commercial Property Investor Confidence Survey drew on 1,636 survey responses.

Related Experts

Chris Dibble

National Director | Colliers Partnerships, Research & Communications


Chris Dibble oversees three key business units at Colliers New Zealand - Colliers Partnerships, Research and Communications.

Colliers Partnership priorities focus on support initiatives that drive collaboration, best practice learning, cost efficiencies, and growth opportunities across the wider Colliers franchise network.

As the head of research for Colliers, Chris oversees the collaboration and delivery of award-winning research reports. He is a regular presenter and market commentator, often discussing the latest insights on current and future property trends.

Chris also leads  PR and communications for Colliers. He works with in-house and external writers to curate an audience-focused content delivery strategy. 

With over 15 years of experience and university qualifications in economics, geography, marketing and property, Chris provides a multi-disciplinary approach that assists a broad range of clients and internal stakeholders.

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Simon Clark

Managing Director


Simon is the managing director of the Colliers Tauranga office. With over 28 years in the industry, he is the most experienced and successful commercial broker in the region. He specialises in the sale of commercial and industrial investments as well as the lease of industrial properties. Throughout his long career, Simon has negotiated the majority of the largest transactions  in his chosen market and has delivered in excess of $1 billion in sales.

Simon works closely with other Colliers branches around New Zealand and in Australia to ensure that local investment listings have the best possible exposure nationally and internationally. He also has an extensive local  network including close relationships with private, corporate, Iwi and syndicator investors who come to him for his vast market knowledge and  to ensure they will find the best investment opportunities.

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