Strong fundamentals, such as low vacancies and strong yields, are helping to keep commercial property markets healthy in the country's urban areas, says NAI Harcourts general manager Tony Kidd
In introducing Harcourts' first Key Assets commercial property portfolio for 2018, Kidd noted suburban commercial buildings and prime industrial remain in high demand across Auckland, Hamilton, Wellington and Christchurch.
"And in Northland, commercial investment properties with good tenants in Whangarei, Kerikeri and Waipapa are producing yields of 7 to 9 per cent." Kidd added.
Harcourts Whangarei sales consultant Peter Peeters explained that since the election there has been substantial more interest in Marsden Pt and Waipapa, where a strong supply of development land exists.
"The success of the Ruakaka area has never been in doubt as it has New Zealand's only oil refinery along with a naturally deep harbour and a large, sheltered bay for ships waiting to enter port.