We opened our Auckland office in 2017 to provide a trans-Tasman offer to our growing number of clients with real estate requirements in both Australia and New Zealand.
With a population of 1.6 million, Auckland contributes 38 percent of New Zealand’s GDP, making it the country's largest economic regional economy. Auckland’s top 18 industries are each valued at more than $1 billion.
Auckland - Office
Auckland CBD’s office vacancy rate has regressed from its all-time low to sit at 6.9%. Both the prime and secondary grade market vacancy rates have increased on the back of COVID-19’s effect on the market. Prime increasing to 4.3% and secondary increasing to 11.2%
Auckland - Industrial
Auckland’s industrial market saw Prime Net Face Rents increase to $130/sqm, with rental growth showing no signs of slowing down in the short term due to lack of supply.
Auckland - Retail
Retail continues to remain consistent even though consumer confidence is down. In Auckland there are several major shopping centre developments underway and retail demand in the CBD remains strong.