Auckland Figures Q3 2025

Key points:

• The RBNZ will continue to lower the OCR, ultimately stabilising it around 2.50% to 2.75%. Since July 2024, the OCR has already decreased by 225 basis points, reaching 3.25%.
• Lower interest rates have created a more favourable investment market environment, leading to increased activity and greater pricing clarity. In line with this, CBRE's analysis of market yields indicates that some firming has occurred, particularly in the industrial and retail sectors, where local private capital is active.
• The leasing market is competitive, although leasing brokers are noticing more occupier activity starting to emerge.  But occupiers also have high expectations of “deals”.
• The Auckland CBD office vacancy rate increased from 16.7% in December 2024 to 18.8% in June 2025. This upward trend reflects a period of significant tenant movements and the introduction of new supply.
• The industrial occupancy market was largely stable in H1 with a slight increase in its overall vacancy rate, from 1.5% to 1.6%.