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Low levels of activity keeping rents flat but investor demand for noncore assets picking up in line with other Auckland markets. Demand for quality in Suburban locations putting upward pressure on rents and yields...The past 6 months has seen low levels of activity in Auckland’sdecentralised office markets with tenant interest being largelyfocused on activity in the CBD. Absorption remained low for thesuburbs with total net absorption bottoming out at -500 sqm for1H13. However this does reflect a 4,000 sqm addition to supplyoverall, the majority being in the Fringe.
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17 September 2013