A technology revolution is driving the future of Hawke's Bay land and property use, says Frank Spencer of property and valuation firm Logan Stone.
He said Hawke's Bay's growing economic strength supported the new business environment, driving steady demand for commercial Hawke's Bay property.
The region had reached a point where growth was "steady with bursts of activity" in contrast to the cycles of the past 80 years, where long periods of stagnation were interrupted by bursts of growth.
"The strength of the national property market demonstrated through investment since 2013 has led to confidence in the growth of regional New Zealand and Hawke's Bay is a prime example," Mr Spencer told more than 120 property investors, financiers, rural businesspeople and politicians at Logan Stone's recent annual Perspective presentation.
"There's been solid investment from offshore with investors, both national and international, looking for alternatives to Auckland, particularly in the sub $5million price band. Investors are keen for better cash returns, which Hawke's Bay can provide, while others are looking to mitigate risk through geographic diversity within their portfolios.