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Average industrial vacancy levels in the Wellington region increased marginally by 30 bps to 6.3% in 2H12 with mixed results from each of the surveyed areas. This has followed a gradual increasing trend over the last five years as the market continues to re-adjust. The main contributor to the result was an increase of 200 bps to 12.7% recorded in Porirua, which now represents roughly a third of the total vacant space in the region.
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03 March 2013