Just a quick note of positivity. After reviewing our figures for the year to date as well as the wider market, the team are pleased to see such buoyant activity in the commercial property market, especially after a round of two lockdowns and an air of uncertainty. During the past 12 months, we have been acquiring commercial buildings for our clients ranging in size from 200sqm to 10,000sqm, with values $750k upwards and across all sectors.
Since August alone, we have completed approx. $19m of commercial property transactions. Compared to this time last year, our total value of property acquisitions has been up by almost 95 percent. Of course, as you would expect, there are better performing sectors than others, but as always there is opportunity to be found . For us, industrial properties continue to be in very strong demand.
Here we are in the middle of a global pandemic working hard to find the ‘jewel in the crown’ properties for our investors. There are plenty of articles about the hit NZ has taken and we deeply empathise with the reality of a recession, however it feels good to share optimism about the commercial property market. What’s driving the activity? Our take is that Kiwis are coming home in droves and are interested in property, stock levels of premium assets are low (motivating investors to act quick on sound advice), interest rates are low, making the servicing of debt more appetising, government stimulus is moving around the country too – no doubt having an impact.
While we can’t read into the future, it’s an intriguing time. Our responsibility is to provide expert advice for our clients and act on your behalf in a timely manner.
If you would like a confidential chat around our recent sales figures and how this fascinating market could work for you, we would be delighted to help.