Commercial property investor confidence is up almost 10% on a
year ago and Queenstown is near the top echelon of rankings
but Dunedin remains mired in pessimism near the bottom.
Colliers International quarterly commercial investor
confidence survey, for the quarter to March, was nationally
up 10% on the previous quarter to December at 25%, or 9% on
the corresponding quarter a year ago.
In Queenstown a year ago, investor confidence stood at an
optimistic 26%, but had bounded to 57% for this quarter to
March, while investor confidence a year ago in Dunedin
remained in pessimism, being -1%, which was repeated for the
current quarter to March.
In order of top rankings, Christchurch's optimism stands at
60%, Queenstown 57% and Auckland at a record 48%, while the
bottom four of the 12 towns and cities ranked are Dunedin at
-1% pessimism, Napier-Hastings -3%, Whangarei -4% and
Palmerston North, at -14%.
Dean Collins, director of Colliers in Dunedin, said
Queenstown was benefiting from its choice as a ''true
international destination'', which subsequently attracted
higher net-wealth individuals to the area.
However, in Dunedin there was only a ''general feeling of
[future] improvement''. There was some evidence people were
considering investing, with the low interest rates on offer
at present, and investment interest from Christchurch people.
Alan McMahon, national director of research and consulting at
Colliers, said national confidence had improved now economic
growth was established, retail sales were up, the
Christchurch rebuild was under way and the sector was
''coming to grips with the impact of seismic strengthening
''This is quite a staggering increase in confidence and is
the highest national result since we began the survey in June
2009,'' Mr McMahon said.
The overall confidence reading means more respondents, of the
total 4457 responses received, thought things would get
better for commercial property investors during the next 12
months, by a margin of 25%.