JLL's Vertical Vacancy Review visually investigates the performance of the prime office markets in Auckland, Wellington and Christchurch. Download the review for Q3 2018 here.
Vacancy has continued its downward trajectory, with the overall Christchurch office rate now sitting at 8.3%.
Strong occupier demand and a shortage of industrial space continues to drive low vacancy rates.
The South Auckland industrial market (Airport Corridor, East Tamaki, Manukau/Wiri) remains in growth mode, stimulated by occupier demand for new and larger premises.
Demand remains elevated for CBD office accommodation, with overall vacancy decreasing by 34 bps to 6.1% in 1H18.
North-West remains in growth mode, driven by new infrastructure, low vacancy in competing locations and high market demand.
Overall tenant demand in the capital maintained its momentum, as pent-up demand backfills larger floor plates that have come to market.
Demand for Christchurch industrial space continued decelerating over 1H18.
The Wellington industrial market continued to perform strongly over the first half of 2018.