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Auckland Industrial 1H2010 Pulse

Auckland's industrial market is poised to grow, but a period of consolidation should be expected for at least the first half of 2010. The issue that everyone remains consious about is the change in New Zealand's tax structure announced in the 2010 Budget. The outcomes are likely to have both positive and negative impacts on the market. Increasing staff numbers is higher on the priority list than in the last 12 months.  As such, vacancy is likely to remain inflated, but relatively stable over 2010. Tenants are playing to current market conditions and are reminding landlords to remain flexible at lease negotiations and rent reviews. It is expected that both prime and secondary yields are likely to start firming at the upper range over the second half of 2010 as investors become more confident in the positive outlook for the sector. Infrastructual enhancements underway and designated for the future will help the Auckland industrial market become much more accessible and fluid than previously experienced.

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