Colliers Hawke’s Bay has kicked off 2021 with the largest January and February since inception in 2004. The economic rebound experienced in the third and fourth quarters of 2020 post the lockdowns led to a rise in a number of local economic indicators, as a broad range of sectors reignited
Despite some uncertainty and short-term disruption to market conditions from COVID-19, low interest rates are fueling investment activity, especially for prime properties with strong covenants. The flight to quality and limited stock available to purchase is likely to elevate the level of competition amongst experienced investors driving values higher. Overall
We are now in the recovery mode of COVID-19, having been in full lockdown and then varying levels. At Level 1 we are much closer back to the normal than many other countries across the globe. There is certainly an air of the unknown going forward from an economic recovery,
Now that the debate about the introduction of a comprehensive capital gains tax is out of the way, we expect confidence to build further in the commercial property sector over 2019. Starting with such a strong base to grow from, with over $138 million in commercial property sold in 2018,
All indicators are pointing towards the market building on the momentum created over the last two years. After a strong finish to 2018 with over $138M commercial property sold by Colliers Hawke’s Bay, a substantial pick up from $116M the previous year, and over 88 leases concluded, generating over $4.4M
