Dunedin Figures H1 2026

SUMMARY

• Office vacancy increased to 9.7% in June 2026 from 9.4% in June 2025, driven by an 
  increased in Prime vacant stock, given the backfill vacancy left behind by ACC due to 
  its relocation to its new building on Dowling Street.
• Dunedin Central remains the suburb with the highest office vacancy, concentrated 
  mainly on Moray Place and Princes Street. In terms of net absorption, Dowling Street 
  and High Street recorded the highest positive absorption, while Rattray Street saw the 
  largest decline.
• Industrial vacancy fell to 2.7% in June 2026 from 2.9%, led mainly by declining Grade C 
  vacancy. Dunedin Central remains the suburb with the highest industrial vacancy, 
  followed by Kenmure and South Dunedin.
• Gross absorption in the Dunedin industrial market reached over 45,500 sqm across 37 
  new occupancies, led by leasing activity in Grade C buildings.