Auckland office rents hard hit

Zoltan Moricz of CB Richard Ellis

Auckland office rents are down 17 per cent, shops down 16 per cent and industrial down 9 per cent.

Zoltan Moricz of CB Richard Ellis said Auckland property had been the most hurt in the downturn.

Rents in the past year had dropped to levels lower than three years ago.

Wellington and Hamilton rents are also down but not as much. Christchurch rents are stable.