Capital is better for Capital

Friday 16 July 2004

Wellington is proving a happier hunting ground than Auckland for listed property vehicle Capital Properties.

By The Landlord

New chief executive Chris Gudgeon told the annual meeting at Westpac Stadium yesterday that vacancy rates in Auckland were up from 10 per cent to 13 per cent, partly due to a downturn in the education sector.

Capital Properties' portfolio includes several buildings in Wellington that are tenanted by Government departments.

Gudgeon said the space they needed was increasing, and vacancy rates there were down.

"To be frank, Auckland is not as good a market as Wellington is at the moment," he said. "Wellington is robust."


Read More - Opens in a new window
Commenting is closed

Property News

Major industrial development powers on

It’s full steam ahead for the Stevenson Group’s $800 million, 361-hectare industrial and residential development in South Auckland – despite the uncertainties of the post-Covid-19 era.

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.

Mortgages

Mortgage lending slumps to record low in April

Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.

Site by PHP Developer