Commercial investors feeling confident
Commercial property investor confidence rose in the December quarter and is now higher than it has ever been, Colliers International says.
Tuesday, December 31st 2013, 12:00AM
by The Landlord
The agency started surveying investors in June 2009.
The net positive 31% recorded nationwide in the most recent survey, up from 25% three months ago, was the highest ever recorded.
Wellington had the largest increase in investor confidence across all commercial property sectors, rising 18 percentage points.
Auckland and Christchurch are the most confident investors, recording a net positive 60% in both areas.
But outside the main centres, commercial investors are not feeling as optimistic.
Whangarei's positivity dropped the most in the quarter, to a net negative 2%, indicating that more investors are pessimistic than optimistic about the outlook for their market.
Other centres that did not report an increase in investor confidence compared to the last quarter were Tauranga/Mt Maunganui, Napier/Hastings and Palmerston North.
Palmerston North reported a net negative 16%, the worst of the country, but significantly better than the net negative 26% reported in the December 2012 quarter.
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