The Northland commercial office market is clearly segregated into different quality sectors. Prime space remains relatively sought after; secondary space is still soft but has been performing better than previous years. Freestanding offices are doing well. View the infographic here.
The industrial market is the strongest performing asset class in Northland. Both rental rates and yields have continued to strengthen and set new benchmarks as a result of limited supply, although growth is now anticipated to slow given the strong growth in recent years. View the infographic here.
The Northland prime retail market has shown volatility over the past six months, largely driven by the varying tenant profiles / lease terms. Whangarei's CBD continues to struggle, and secondary properties will likely continue to suffer from static rental growth going forward. View the infographic here.