It found that 12 out of 13 regions have a net positive score
Commercial property investors are the most confident they have been in three years as regions continue to fight for the top spot in the market, according to Colliers International’s latest report.
The real estate company’s latest quarterly Commercial Property Investor Confidence Survey found that a net positive 27% of respondents expect investment conditions to get better over the next 12 months –the highest number of optimists since the December 2016 quarter.
“Queenstown and Tauranga/Mount Maunganui continue to battle for the top spot, coming in at first equal this survey at a net positive 57 per cent,” Chris Dibble, research and communications director at Colliers International, said. “Hamilton got a further vote of confidence, coming in at third for the second consecutive quarter, at a net positive 53 per cent.”
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Dibble noted that 12 out of 13 regions have a net positive score – Christchurch being the exception, with a net negative 3%.
“However, there is solid optimism in Christchurch’s industrial sector, while a large number of respondents expect conditions to remain stable in the city’s office and retail sectors, rather than show a significant uplift,” he said.
The respondents were also asked about what they think will be the biggest positive impacts on the property market in the coming year – with most citing low interest rates followed by change in government. Meanwhile, the most common negative response was tightening in bank lending followed by overseas political tensions.
