• The CBD office market is very buoyant. Vacancy decreased to its lowest level since 2001 and Prime net effective rents increased each quarter of the past year with total annual growth of more than 15%. 
  • An active industrial development market delivered 63,289sqm of new Grade A stock in the second half of 2021. Rents, yields and vacancy were relatively stable. 
  • Overall retail spend across the city has been resilient although geographically some suburban locations have performed ahead of the CBD. Following an extended period of stability, the Christchurch retail market is showing rental growth in the Prime CBD submarket. 
  • In Q1, as in Auckland, increasing inflationary pressures and rising interest rates resulted in moderately increasing market yields across most sectors.