Commercial & Industrial Market Overview - May 2020
Below is the commercial and industrial leasing for the month of May as listed on realestate.co.nz. There were 58 new properties listed for lease in May 2020, while higher than previously seen this year it is in line with the number of listings in August and November 2019. Thus, it appears as though any negative effects, such as increased vacancy levels associated with Covid-19 are not being immediately felt post lock-down. How the number of listings changes over the following months will be of interest.
In terms of properties being offered for sale, there was an increase from April. However, there were a total of 15 new properties advertised for sale in the month of May. The below graph indicates that there is a move from auction and deadline sales strategies to that of priced or price by negotiation. November 2019 was the last month whereby deadline sales methods were the preferred option.