Commercial outlook 2018
There may be some challenges for the commercial property market ahead but, overall, the outlook is positive – for those who embrace change.
Monday, March 26th 2018, 8:00AM
by The Landlord
Wellington
It’s a widely accepted truism that these are unsettled times. Last year election, and then new government, related uncertainty dominated the year.
This year that has spilled over, to be joined by inflation concerns and, now, global share market volatility.
The potential impact of all this uncertainty has been well-mined when it comes to the outlook for the residential property market.
But when it comes to the commercial property market far less has been said about what these turbulent times might hold going forward.
So, in this month’s NZ Property Investor magazine, we talk to some industry experts to establish the outlook for the various different sectors of the commercial market.
They also help us to identify some of the trends set to impact on those commercial sectors in the near future.
One major point to emerge was that the Wellington office sector is being picked as the commercial market to watch.
Earthquake related damage has had a significant impact on office supply in the Capital, yet the region’s economy is doing well.
That means that demand for office space is running high at a time when vacancy rates are very low – and the demand pressures continue to grow.
To find out more about the Wellington office market, as well as other trends in store for the commercial market this year, click here to get the digital issue of NZ Property Investor magazine.
Subscribe to NZ Property Investor magazine here to get great stories like this delivered to your mailbox every month.
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