2024 New Zealand Regional Figures Report – Northland

This CBRE report provides an overview of the Northland commercial office, industrial, and retail property markets for June 2024. It highlights an increase in office vacancy rates in the Secondary submarket, contrasted with a robust demand for Prime A-grade office buildings. Although the industrial rental market is still growing, it's doing so at a slower rate due to more difficult economic conditions. Vacancies remain low, but they have risen slightly compared to previous years. The retail market has shown mixed results, with bulk retail outperforming CBD and suburban retail rents. Despite an increase in uptake for CBD fringe spaces, surplus levels remain high, leading to static rents. Dive into the detailed CBRE report to understand the trends impacting these sectors.