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• Overall vacancy rate declines• Development activity remains subdued in the CBD• Rents and capital values continue to strengthen
The vacancy rate in Auckland’s CBD office market continues to decrease from the cyclical peak reached in 2010 (14.2%) and now sits at 11.2%. Approximately 120,000sqm of overall space is now vacant, the majority within secondary properties. The strengthening vacancy rate in the last six months has been triggered by a gradual rise in business confidence and employment growth.
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28 August 2012