Improvement in commercial property confidence
2011 is looking less negative for commercial property, with investor confidence increasing to levels not seen since June 2009.
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Investor confidence in the commercial property confidence has increased to a high not seen for more than 18 months.
Negativity has decreased from -19% to -8% overall according to the latest research by property company Colliers. This is the highest level seen since mid 2009.
Confidence increased the most in Auckland, where a 17% hike was reported.
Despite extensive damage suffered to its commercial properties in the September and subsequent earthquakes, confidence in Christchurch was up by 16%.
Though it had a -9% improvement, commercial property confidence was the lowest nationwide in Wellington at -24%. However, retail investors were the most confident about Wellington out of any location in New Zealand.
Industrial investors favoured Auckland and Christchurch in terms of optimism.
Jazial Crossley
Tue, 25 Jan 2011
Tue, 25 Jan 2011
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Free News Alerts
Sign up to get the latest stories and insights delivered to your inbox – free, every day.
Improvement in commercial property confidence
11789