The local commercial property market has maintained a steady level of sales activity since 2012. Declining yields were noted for well located, securely leased properties with a high seismic rating on the back of historically low interest rates. Analysis is now showing a stabilisation of yields across all sectors. Financiers and investors remain keenly interested in weighted average lease terms and seismic rating in considering the risk profile of any property.

The key drivers of population growth through migration, low interest rates, stable economy and low unemployment still combine to underpin the market creating a stable economic climate. Prospective purchasers must make quicker decisions when buying a property especially in the lower price bracket. Vendors who are prepared to meet the market are achieving successful sales.

The average time to sell in June was 33 days with the average for the last 3 months of 32 days. The 12-month average is 28 days. This indicates the pace of the market has slowed slightly with a reduction in demand leading to longer marketing periods.

The local commercial property market has maintained a steady level of sales activity since 2012. Analysis continues to show a strengthening of yields for well located, securely leased properties with a high seismic rating while those less favourably located, with shorter lease terms or a low seismic rating have seen a weakening of yields.

The 2017 year to date has seen a decrease in the total number of sales compared with the same periods in 2016 and 2015.

The Reserve Bank continues to manipulate the Official Cash Rate intending to control the market and monitor inflation. With inflation continuing to run below 1%, the Official Cash Rate was lowered in August by 25 basis points to 2.00% with the intention of increasing economic activity.

The need for a water storage dam in the Waimea Plains is well understood by major water users, including industrial water users, the Tasman District Council (TDC) and environmental groups such as Fish & Game NZ and Forest & Bird as well as irrigators. It is not so well understood by the urban community who have an expectation that the TDC will always provide their water needs.

The key drivers of population growth through migration, low interest rates, stable economy and low unemployment still combine to underpin the market creating a stable economic climate. Prospective purchasers have to make quicker decisions regards buying a property especially in the lower price bracket.

The local commercial property market has maintained a steady level of sales activity since 2012. Analysis continues to show a strengthening of yields for well located, securely leased properties with a high seismic rating while those less favourably located, with shorter lease terms or a low seismic rating have seen a weakening of yields.

The local commercial property market has maintained a steady level of sales activity since 2012. Analysis continues to show a strengthening of yields for well located, securely leased properties with a high seismic rating