2024 New Zealand Regional Figures Report – Hawke’s Bay

Explore the Hawke’s Bay property market trends for June 2024. The office market in Napier is showing strong demand for A and B grade spaces with low vacancy rates, whereas the industrial market is steady with an upward pressure on rents due to low vacancy rates. The retail market in Napier CBD is experiencing low vacancy levels with average demand from tenants. Hastings’s office and industrial markets shows steady demand and robust rental growth, whilst the retail market shows low vacancy levels in some areas and good rental growth for well-located tenancies. In contrast, in Gisborne, the office market is suffering from high vacancy rates, the industrial market has a limited supply of quality spaces and the retail market is weakening with an increase in vacancy levels. Discover more about the changing yields, market direction, supply, and demand across different sectors and grades in Hawke’s Bay.