The population growth has led to an uptake of office accommodation and at present there is adequate demand and supply. New developments and refurbishment of older offices has increased supply, but rental growth has been evident. View infographic here.
The industrial market continues to be the strongest performing asset class in Northland. Both rental rates and yields have continued to strengthen and set new benchmarks. New buildings have been constructed and, with higher build costs, rents have also improved at a fast pace. View infographic here
The Northland prime retail market has shown resilience following the emergence of the COVID-19 pandemic. Vacancies have generally lowered, rents in high occupancy locations have improved, and yields have lowered in line with lowering interest rates, except where sold vacant. View infographic here.