Commercial confidence

Confidence in the commercial property market has increased to its highest point since December

2016.

Colliers International’s latest quarterly Commercial Property

Investor Confidence Survey says overall confidence has increased to a net positive 25 per cent, up from 18 per cent three months ago.

Overall, all regions recorded an increase in investor confidence, with 11 out of 12 regions recording a net positive score — meaning there are more optimistic respondents than pessimists.

Colliers’ research and consulting national director Alan McMahon says confidence in the office and industrial sectors is up across the broad.

Retail confidence is up for Auckland and Christchurch, but down in Wellington.

The top two spots for investor confidence were taken out by Queenstown and Tauranga/Mount Maunganui again, for the seventh consecutive quarter. Hamilton has overtaken Auckland and Wellington for the third spot, while Palmerston North has come out of negative territory, reporting a net positive 7 per cent.

A key theme in comments from respondents was uncertainty around how e-commerce will impact brick and mortar retailers.

The commercial survey drew on 222 responses.