Auckland office market starting to show stress fractures

Auckland office market starting to show stress fractures
Brent Melville
Cracks are starting to appear in the Auckland commercial property market, with more than 148,000 square metres of planned city office developments parked for now. What's more, vacancy rates in the country's largest city were likely to ramp up as the recession takes hold, and as an additional 122,000 sqm currently being built comes on stream in the next 18 months. Auckland developers and commercial landlords have been on easy street for the past five years as CBD office vacancy levels hit historic lows, ending 2019 at 4.7 percent.   Met...

More Property

Auckland council on the hook for $150m building claim
Property

Auckland council on the hook for $150m building claim

Justice Tracey Walker heard the case from May to October 2022.

Staff reporters 26 Mar 2024
Winton's Wynyard: for the wealthy and well-heeled
Property

Winton's Wynyard: for the wealthy and well-heeled

Big balconies take advantage of the harbour and historic quarter views. 

Brent Melville 26 Mar 2024
Funds cut payments, hive off assets to survive, until better times come
Property

Funds cut payments, hive off assets to survive, until better times come

Property syndicators forced to sell their owned properties into a buyers market.

Brent Melville 25 Mar 2024
Build-to-rent 'doesn't work', but it needs to
Property

Build-to-rent 'doesn't work', but it needs to

Institutions say it's a tough sector given regulatory and tax settings.

Brent Melville 22 Mar 2024