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Although underlying fundamentals remain robust, the retail market remains highly segmented. Many high-end retailers are performing well, but this has not been the case for all. Overall vacancy in the Auckland CBD market has increased 0.5% higher to 3.8%.
Asking rents remain largely flat with the divergence between prime and secondary figures widening. Strong demand from international and luxury retailers has pushed up Prime CBD rents.
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07 September 2015