Auckland office market starting to show stress fractures

$Auckland office market starting to show stress fractures$

Mon, 06 Jul 2020

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...

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