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The active development pipeline across the office, retail and industrial sectors currently comprises 74 projects. The industrial market dominates.
Drury, the Airport Corridor and nearby Mangere are especially active for industrial development. Office development is concentrated in the Auckland CBD.
Next year’s expected industrial completions are the largest pipeline since the GFC and show confidence from both developers and occupiers.
Precommitment levels are healthy, reaching 84% for industrial and 54% for office.
Received wisdom tells us that the number of civil servants tends to decrease in periods of centre right compared to centre left governments. Following this year's election, the new government's likely impact on the size of the public sector and, by extension, the office market has again come to the fore. We put to the test what could be expected by overlaying historic public sector employment with the government of the day.