Q3 – 2014 | PropertyMetrix | Report 6

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Metrics Commentaries Q3 – 2014:

  • Confidence is much improved on 2013 and NZ economic metrics are bolstering the outlook for most commercial-industrial property.
  • The charted commercial-industrial property sales peak Q2-08 at $82M was 61% lower 5.75 years later at $32M Q1-14 (transaction numbers peaked at 58 in Q2-08 and reduced 52% to 28 by Q1-14).
  • Large Format Retail activity has spiked:  Napier has seen Harvey Norman open at the Balmoral Centre and Noel Leeming expand its footprint into the adjoining Godfreys premises.  In Hastings, Noel Leeming is expected to relocate to The Park, The Clearance Shed has leased up a large portion of the former The Warehouse, and PK Furniture is moving into premises adjoining Warehouse Stationery.