Q3 – 2016 | PropertyMetrix | Report 9

Hawke’s Bay has recently seen “stunning” commercial-industrial property transactions. Quick sales at low yields shows the investment market is heated. Built property total sales values and numbers improved every quarter during 2015, with similar trending for 2016. Some retail occupancy has rebounded.

Observations:

  • Caltex Karamu Rd resale Sep 16 plus 84% (~$900k) on previous Feb 11 sale – refer to TCL for details.
  • Built Hawke’s Bay commercial-industrial property sales values and numbers improved every quarter during 2015, similarly trending for 2016.
  • Since 2007, there have been five occasions when built Hawke’s Bay commercial-industrial property quarterly sales values have totalled more than $50M – 4 times between 2007-08, and the 5th occasion Q4 2015. There is a strong change this will repeat in 2016, with data lagging.
  • Commercial-industrial land sales spiked in the second quarter of 2015, the first time since 2007 land sales have exceeded $10million in one quarter.