As the number of Omicron cases rise, Colliers looks to Australian cities to see how New Zealand’s office, retail and industrial markets could track in the future Office Sector Over the past two decades, vacancy rates in Auckland’s CBD and metropolitan office markets have typically followed a similar path with Sydney (5.1mil sqm total inventory) and Melbourne (4.9mil sqm total inventory). Continue →

International firms across the Asia-Pacific region are indicating they are keen to reduce their office footprint, The Urban Developer reports Office demand and revenue will continue to fall as more employees embrace working from home arrangements this year. Continue →

The property industry has spoken out against proposed changes to commercial leases, saying it fails to target struggling tenants most in need The government has proposed to amend the Property Law Act 2007 by inserting a clause into commercial leases. Continue →

The return to Covid-19 enforced restrictions will be temporarily disruptive, but demand will remain buoyant and will likely make a strong return upon entering lower Alert Levels, Colliers reports Now with a previous lockdown experience to review, the impacts on supply seem to far outweigh the impacts on demand in these situations, and for many, but not all, there is a lot of positives. Continue →

Commercial office, retail and industrial markets, one year on from the end of New Zealand’s national lockdown, have performed more strongly than expected, according to a recent research report by Colliers The report notes that the effect of lockdowns on the commercial property sectors, both locally and internationally, however, has varied across market sectors. Continue →

It may have been a hard year for retail development, but looking at well-designed projects can shed light on what makes or breaks a precinct, the Urban Developer reports As online shopping increases there is a push to create destination stores while harnessing the internet to drive visitation. Continue →

Colliers research found both Auckland and Wellington have experienced increased rates of vacancy in the commercial sector, but is this the new normal or is change on the horizon? Continue →

2020 saw increased vacancy rates in the office, industrial and retail markets with mixed yields in each sector, but Colliers research says it is not all about COVID While the adverse economic impact of COVID-19 was a rightfully expected influence, other market dynamics pre-COVID (such as vacancy rates that were at historic lows and increasing development activity) also played their part. Continue →

What has hit the central city hardest is not the economic fall-out from Covid-19, but the City Rail Link and other major infrastructure projections which have effectively closed off large parts of the CBD, says Director of New Zealand Mortgages & Securities (NZMS) James Kellow In many ways Auckland’s CBD is trailing behind the city fringe, but property values are holding up well with plenty of development and investment underway. Continue →

Takapuna went into the first lockdown with an office vacancy rate considerably lower than Auckland’s CBD, and still the North Shore metropolitan centre’s commercial occupancy remains high   In March, Colliers International reported that Takapuna’s office vacancy rate had fallen to 4.5% – down from 5.1% in September 2019. Continue →

A big data analysis shows people are increasingly getting back to city centres and tourism hotspots, suggesting a return to some more normal occupancy trends in the office market and promising signs for the retail sector Colliers International’s latest monthly research report utilises new data on people’s movements to look at the impacts of Covid-19 on the office and retail markets. Continue →

New Zealand’s hotel market has shown a surprisingly strong rebound since the domestic travel restrictions lifted in June, with demand being driven by tourism, business and mandatory isolation, Colliers reports Colliers International’s latest New Zealand Hotel Market Snapshot, released this week, examines the impact that Covid-19 has had on the sector, and the early beginnings of the recovery process. Continue →

As the pandemic changes the shape of the office forever, will companies forgo their office space in favour of their employees working from home? Continue →

Property Council New Zealand and the New Zealand Council of Retail Property have voiced concerns over the Government’s proposal to intervene in the industries contractual relationships “The announcement of a commercial rent dispute process is too little, too late for a majority of landlords and tenants”, says Property Council chief executive Leonie Freeman. Continue →

The impacts of COVID-19 has stalled New Zealand’s commercial property sector, with uncertainty over the long-term impacts driving a steep decline in market confidence, the Q1 2020 RICS New Zealand Commercial Property Monitor has found The quarterly market survey of New Zealand commercial property professionals released today by RICS shows that demand for commercial property from both occupiers and investors has stalled to begin 2020, leading to a dive in sentiment amongst investors and occupiers over the past three months. Continue →

Government and bank investment to stabilise commercial, office and industrial and residential property – and safeguard investors and their tenants – are essential to provide a platform for the recovery of the whole economy, says Nikki Connors The Reserve Bank of New Zealand told banks it would remove loan-to-value ratio (LVR) restrictions on residential mortgage lending for at least a year, with the idea that mortgage lending and feedback from banks would be monitored during what everyone expects to be a recessionary environment. Continue →

New Zealand’s $145 billion commercial property sector is facing hundreds of millions in lost revenue without further support, increasing the risk of stalling the economy, says Property Council New Zealand chief executive Leonie Freeman The challenges facing business are vast and unchartered. Continue →

$6.8 billion of transport projects were announced as part of the Big New Zealand Upgrade. Continue →

The travelling New Zealand public will know the Rainbow Point Motel well. Continue →