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Wellington Retail Market

Occupier demand remains relatively strong, with positive absorption experienced in Wellington over 2H10. This is despite household spending being lower than anticipated over 2H10. The Wellington overall vacancy rate at 3.2%, down from 5.2% recorded in 1H10. The most leasing activity over 2H10 was recorded in Lambton Quay comprises 65% of total vacant space. Retailers generally feel more confident that prosperous times are ahead despite consumers remaining budget conscious...

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