Commercial Figures Northland

The Whangarei office sector has seen an uptake from new tenants with a lowering of vacancy rates.

Commercial office sales have remained strong to owner occupiers with investors retracting unless the property provides a higher return on investment.

The industrial market has continued strongly with rental increases on review well exceeding inflation. With a lack of vacant industrial land, this is set to continue in the short term.

The retail market has performed well despite the strong pressure from online shopping. Many retailers have adapted their offering to include online sales since the onset of the pandemic.