Jump in industrial properties listed for sale on Realestate.co.nz in July

There was a strong lift in the number of commercial properties listed on Realestate.co.nz last month, with industrial property listings in Auckland and Canterbury leading the way.

There was a particularly strong jump in the number and price of Auckland industrial properties coming to market, with 95 newly listed on Realestate.co.nz last month, which was the highest number since November last year.

The average value (by vendor expectations) was also firm at $3.88 million, which combined with the high number of listings took the total value of new industrial stock coming on to the market last month to $369 million, the second highest value in a single month ever and only surpassed by the $521 million of industrial stock listed in September last year.

Most of the new listings were in Central Auckland ($163 million) and Manukau ($143 million).

Industrial property listings were also up strongly in Canterbury where 33 industrial properties were listed for sale in July, the highest number since November 2013.

Auckland retail property listings were also strong with 63 listed on the website in July, the highest number since October last year.

Canterbury office property listings also showed an improved performance compared with recent months, with 22 new listings for sale in July.

In Wellington the market was largely flat, with new listings of industrial, office and retail properties all virtually unchanged over the last couple of months.

  Commercial Property Listings on Realestate.co.nz February – July 2015
Auckland
  Industrial Buildings Office Buildings Retail Properties
  Avg. Price $ No. Total value $ Avg. Price $ No. Total value $ Avg. Price $ No. Total value $
Feb 2,536,923 93 235,933,804 1,056,762 44 46,497,510 1,186,324 62 73,552,081
Mar 4,094,176 83 339,816,605 2,191,986 37 81,103,500 1,279,242 33 42,215,000
Apr 3,557,082 86 305,909,015 3,556,050 40 142,242,005 1,258,170 63 79,264,721
May 1,436,639 73 104,874,650 2,845,000 31 88,195,005 1,764,410 56 98,806,962
Jun 1,723,044 67 115,443,960 2,772,513 38 105,355,500 1,836,363 51 93,654,500
Jul 3,884,318 95 369,010,165 1,644,053 41 67,406,181 1,876,017 66 123,817,148
Canterbury
  Industrial Buildings Office Buildings Retail Properties
  Avg. Price No. Total value $ Avg. Price No. Total value $ Avg. Price No. Total value $
Feb 1,350,688 16 21,611,000 411,556 9 3,704,000 1,208,653 18 21,755,750
Mar 909,398 22 20,006,754 1,360,174 28 38,084,874 1,200,000 2 2,400,000
Apr 582,483 15 8,737,250 1,560,525 8 12,484,200 726,400 5 3,632,000
May 953,199 24 22,876,766 1,311,636 11 14,428,000 294,000 5 1,470,000
Jun 718,250 12 8,619,000 3,461,001 15 51,915,014 1,156,106 6 6,936,636
Jul 910,156 33 30,035,163 1,287,841 22 28,332,500 725,000 3 2,175,000
Wellington
  Industrial Buildings Office Buildings Retail Properties
  Avg. Price No. Total value $ Avg. Price No. Total value $ Avg. Price No. Total value $
Feb 686,355 24 16,472,510 25,450,005 2 50,900,010 487,692 13 6,340,000
Mar 823,000 17 13,991,000 840,000 5 4,200,000 1,398,612 9 12,587,505
Apr 1,162,778 9 10,465,000 2,590,625 8 20,725,000 1,050,818 11 11,559,000
May 382,273 11 4,205,000 487,544 8 3,900,350 775,715 7 5,430,005
Jun 939,286 7 6,575,005 1,133,111 9 10,198,000 619,000 5 3,095,000
Jul 1,025,000 8 8,200,000 2,216,813 8 17,734,500 2,001,100 5 10,005,500

This article was first published in The Property Line Quarterly Report which is published by interest.co.nz and sent to subscribers of our regular Property Newsletter. Both the newsletter and the Quarterly Report are free, we do not share subscribers’ details with third parties and you can unsubscribe at any time. To subscribe to The Property Newsletter and receive the Quarterly Report and all of interest.co.nz’s other property-related stories delivered free to you inbox, enter your details in the subscription box below:

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