Jeremy Tauri.
Regional housing markets still seem to be going from strength to strength. But will that heat flow into their commercial property markets, too?
CBDs around the country are struggling with uncomfortably high vacancy rates.
But while some of the smaller centres struggle to keep life in their CBDs, the bigger
cities are starting to have the opposite problem. Auckland's office space vacancy rates are at record lows and rents are rising quickly. Retail vacancy rates are below 3 per cent in central Auckland. Good, affordable industrial property is hard to find in the country's biggest cities.
How can we encourage some of that to flow out a bit further to the regions with more than enough space to go around, as has happened with the residential sector?
Struggling first-home buyers have looked further afield for more affordable options, could retailers and businesses seeking office or factory space be encouraged to do the same?
