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Results are as expected with vacancy rates remaining at what we consider to be structural levels and therefore showing a level of volatility around these low numbers reflecting the ‘point in time’ nature of the survey. High quality supply in Auckland’s Fringe market will go some way to releasing demand pressure for Prime stock in Auckland however with limited supply coming online in Wellington, the same outlook is not predicted; JLL expect upper Grade B stock to take absorb demand pushed out of Prime space.
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19 November 2014