Despite economic influences like market corrections, a reduction of the New Zealand dollar against the greenback, consensus being reached on the Trans Pacific Partnership agreement, and a reduction in the Reserve Bank's Official Cash Rate, demand from investors for commercial property remains high, says John Urlich, commercial manager of Barfoot & Thompson.
Launching the agency's latest Insite portfolio publication containing 41 industrial, office and retail properties for sale and lease, Urlich says "activity across all sectors of the market at all price points is pronounced and it is keeping our three commercial offices in Auckland CBD, North Shore and South Auckland busy.
"A number of our institutional clients have tens of millions of dollars to invest in large quality investment properties and are seeking to actively add to their already substantial portfolios," Urlich says. "At the other end of the spectrum, we receive regular inquiry from private individuals and family trusts looking to buy properties at less than a million dollars.
"We have also seen significant activity on the leasing front. Our concern is that vacancy levels are now extremely low, with potential tenants being put in a position where if they do not make a decision quickly, they will miss the opportunity presented.
