Office Sector Market Update

Office rents in the Auckland CBD office market have been steadily increasing with prime rents a by-product of high replacement costs and limited new supply.  Various market sources report rental growth rates of 2% to 5% per annum with an expectation of continued growth rates between 3% to 4% per annum for the next few years until new supply comes to market.  Yields in the Auckland CBD office sector have been contracting over the previous years at a consistent rate, particularly in the $3-10 million bracket as a large amount of market competition exists.

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