While many businesses are still negotiating with insurance companies, at least four small-to-medium enterprises have relocated to Dunedin and have signed up with Bayleys or Colliers for commercial premises around the city. Several others are in negotiations.
The prospect of quake-stricken businesses relocating to Dunedin has been a hot topic in the business sector, but so far there has been only anecdotal evidence of commercial interest, underpinned by residential inquiries.
Bayleys commercial and industrial leasing sales agent Gabrielle Wilson said four of five small businesses relocating to Dunedin had Dunedin origins to begin with.
"In several cases they've had the insurance pay-out [from the first September] quake and after the last one [February] simply decided they had had enough," Ms Wilson said.
She had recently signed up leases for three separate office spaces with staff numbers totalling 12. Two small retail operations were still looking for premises of up to about 100sq m.
Colliers commercial sales and leasing agent Bill Brown said there was initial interest in commercial space after the quake "just to make sure there were options in Dunedin", but that interest had waned, until about two weeks ago.
"It's not a huge wave but it is beginning to happen," Mr Brown said.
A professional person had recently leased new office space from Colliers in Dunedin while a separate small retailer was negotiating, Mr Brown said.
"During the next couple of months we're expecting to see more [relocations] as people come to the realisation of the difficulty in setting up again in Christchurch," he said.
Ms Wilson said Dunedin's capacity of space was at present "mixed". George St retail space and large commercial multistorey buildings were "tight", but there was adequate bulk-retail and secondary commercial space available.
In recent weeks there has been speculation a large insurance company was looking for commercial premises around the city's CBD, but property sources have been unable to confirm any inquiries, other than a medium-sized retailer having signed a lease in George St.
Ms Wilson was aware of a large company that had considered coming to Dunedin, but its Christchurch landlord had subsequently found alternative premises.
"There's been a lot of industrial property converted into office space in Christchurch," Ms Wilson said.
The New Zealand Herald reported last week that hundreds of refugees from Christchurch are soaking up excess rentals across New Zealand.
The First National Group's quarterly survey of its property managers found demand for rentals was steady and rents were rising more strongly than 12 months ago.
The group reported a national vacancy rate of 4.8% for the March quarter, up from 2.5% last year, a figure driven in part by the number of uninhabitable homes in Christchurch.
First National Group's general manager, John Stewart, said the Christchurch earthquake had dispersed residents to areas including Auckland, Timaru, Ashburton, Blenheim, Nelson and Central Otago, reducing vacancy rates in those areas.
