Steve Buckley (027 339 8398), an Auckland property broker, now serving Auckland commercial real estate clients via Black Haus Limited (licensed under the REAA 2008), says the city's industrial property market performed strongly in the first quarter of 2023.
Auckland, New Zealand - May 5, 2023 —
Commercial Property Broker Auckland Steve Buckley https://commercialpropertybrokerauckland.co.nz/ expects a strong outlook for the Auckland property market in 2023 and beyond. Buckley pointed out that the commercial market has solid fundamentals that will support strong returns in the future. The industrial sector has demonstrated remarkable resilience, with low vacancy despite a challenging economic landscape, higher interest rates, and increased development activity.
"Despite ongoing economic uncertainty, Auckland’s commercial property market has proven itself to be a safe-haven investment. The industrial sector has performed exceptionally well and remains a top choice for investors," said Buckley.
The sustained demand for industrial property reflects its status as a safe-haven investment. In 2022 warehouse popularity was through the roof yet, despite a slight slowdown in demand in the backend of 2022, Buckley believes industrial property's strong fundamentals have continued to make it an attractive investment option amid tougher financial conditions.
See Steve's listings here https://www.trademe.co.nz/a/property/agent/Steve-Buckley
Buckley also pointed out that the retail and office sectors are currently seeing an increase in occupier momentum for premium and well-located space. "The Auckland property market is showing stronger occupier momentum for quality and well-positioned space in the retail and office sectors too" he said.
However, secondary office space was reported to reach a vacancy rate of 19.3% mid 2022. The supply-side factor is likely to have the most significant impact on vacancy. "Addressing the issue of the supply of secondary office space will be crucial for the overall health of the Auckland property market," said Buckley.
Industrial markets have tightened significantly, with vacancy levels reported at a low 0.1%. This is reflective of ongoing tenant demand for industrial property, which has continued despite higher interest rates, a cooling economy, and increased development activity.
Buckley is also anticipating an increase in commercial sales across 2023 as sellers are motivated by the high interest rates and revised valuations.
Overall, the Auckland property market is expected to continue a strong performance across 2023 and into 2024, with solid fundamentals supporting returns in the future. With Buckley’s and Black Haus's expertise and commitment to excellence, the future of the Auckland property market looks bright.
Buckley has recently joined the real estate agency team at Black Haus Limited (licensed under the REAA 2008) as a commercial property broker. "I'm excited to be with Black Haus, a bespoke real estate agency whom share my passion for the Auckland property market and a commitment to providing the best service to clients," he said.
For more information about the Auckland commercial property market visit https://nz.linkedin.com/in/stevebuckleypropertybroker/
About Us: Prior to his career in real estate, Steve Buckley spent 13 years in the professional sports sector, as a strength and conditioning specialist working with world-class athletes across multiple Olympic and Commonwealth games. Due to a keen interest in providing creative solutions to real estate problems, Steve re-routed his career to real estate where he aims to provide an efficient, integral service to his clients and tenants wanting to lease, sell or buy commercial property in Auckland.
Contact Info:
Name: Steve Buckley
Email: Send Email
Organization: Commercial Property Broker Auckland Steve Buckley
Address: 48 Greys Avenue, Auckland CBD, Auckland 1010
Phone: 027 339 8398
Website: https://commercialpropertybrokerauckland.co.nz/
Video URL: https://www.youtube.com/@stevebuckleypropertybroker/about
Release ID: 89096849
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