2023 New Zealand Regional Figures Report – Northland

This CBRE report provides an overview of the Northland commercial, industrial, and retail property markets for December 2023. It highlights that office vacancy rates are increasing due to a surplus of supply, with prime A-grade offices demanding premium rents. The industrial rental market is persisting despite a lack of supply, while sales remain robust for owner-occupiers. The retail market, however, is static despite the rise of online shopping, with rental growth in suburban areas outpacing that in secondary CBD locations.