Full buildings, new tower buoy sector
Monday 26 January 2004
A robust leasing market, strong interest from overseas buyers and the development of a new
By The LandlordAuckland office tower indicate a real estate sector in good shape for the year ahead, says an adviser.
Jones Lang LaSalle senior consultant Mark Clavey said the continued strength of the domestic economy had propelled commercial property to new heights, and he saw no signs of any big changes this year.
Unsatisfied investor demand, expansion of a new office precinct round Viaduct Harbour in Auckland and big transactions were hallmarks of last year, he said.
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There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.