Commercial vacancies jump in major cities

Fri, 05 Feb 2021

Office vacancies in the Auckland CBD almost doubled to 8.8 percent last year from 4.7 percent in 2019, heading north of levels seen in Wellington which climbed by a more subdued 0.8 percent to 6.9 percent.In its latest commercial report, international property brokerage firm Colliers said "significant development activity" had resulted in 50,000 square metres and 45,000 sqm more inventory coming on stream across the Auckland and Wellington markets respectively.However, the Wellington market had been more insulated from the economic fa...

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