Property Talk: Auckland knocked off top spot in investor confidence

Two outliers pip Auckland in confidence stakes. With special audio feature.

Property investor sentiment is at a two-year high with Queenstown taking the number one spot for commercial property confidence.

Auckland was at the top of the tree in the past year but has given up that mantle to the southern lakes tourist town and has slipped to third place behind Tauranga for the first time in three years.

Confidence in the country’s largest city rarely falls below top place and when it does Colliers International research director Chris Dibble says it is usually in response to strong investment activity in Queenstown.

Hamilton is in fourth spot surging to its highest recorded confidence since the Colliers International survey began.

The number of optimists in the survey outnumber pessimists by a margin of 27%, up from 26% in December. However, not all investors expect a clear run ahead.

Mr Dibble says by contrast, Christchurch confidence is following a declining trend as the rebuild reaches its mid-point.

Follow NBR on Facebook, Twitter, LinkedIn and Instagram for the latest news and free on-demand audio from NBR Radio.