Real Estate Listings Website for NZ Sees Surge in Newly Listed Commercial Properties

Posted by Staff Reporter (media@realtytoday.com) on Nov 27, 2015 12:49 PM EST
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Million Dollar Prices Become The Norm As Auckland Property Market Soarsmore big
AUCKLAND, NEW ZEALAND - NOVEMBER 25: Houses for sale and sold in central Auckland suburbs on November 25, 2015 in Auckland, New Zealand. The average house price in Auckland has risen by 70 per cent to 1.08 million in the last four year. (Photo : Fiona Goodall/Getty Images)

Auckland commercial properties are becoming more and more inviting to investors as Realestate.co.nz receives a huge number of new listings for commercial properties.

According to interest.com, Realestate.co.nz has seen a sudden surge in commercial property listing this October. The biggest surge in terms of units listed was in the listing of small retail buildings, with 122 new retail assets on an average asking price of $1.64 million, listed on the website. That puts more than $200 million new retail supply in the Auckland commercial property market.

But it is in the Auckland industrial properties, for which total amount for the newly listed properties is $605.8 million, is the biggest surge in terms of value. And this is the sector in commercial real estate in which investors will find most attractive.

But Realestate.com.nz says that the figure in the industrial properties new listings for in Auckland, Wellington and Canterbury found in the website for the month of September was the lowest since 2013. On the other hand, listings for Office Spaces were also high in Auckland with a new record this year of 72 office properties with "combined asking prices of $189.6 million coming on to the market in October," according to interest.com.

Moreover, Canterbury is considered the second largest region in terms of commercial real estate sales, with the influx of smaller office spaces on an asking price of $58.9 million recently registered on the real estate website in the month of October while smaller industrial properties listings have a total price of $43.3 million.

Based on the Realestate.co.nz listings, the Wellington market was a little downcast on the other hand with only a total of $12 million in newly listed industrial assets, $6.6 million for office spaces and $7.2 million for retail spaces for the month of October. To read more and see tables go here.

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