Soaring property values and "historically low" vacancies within the industrial property sector are pushing up rents, local experts say.
Bayleys research manager Ian Little said conditions were particularly tight within Tauranga's industrial sector.
"Vacancies have hit historically low levels, and upward pressure on rents is intensifying," Little said.
Bayleys Real Estate research showed the overall vacancy rate within the industrial property sector was a low 2.4 per cent - down from 4.4 per cent at the end of 2017.
Rental returns on prime industrial sites now ranged between 4.5 per cent and 5.54 per cent.
Little said prime industrial land