CBRE’s mid-year New Zealand Investment MarketView research report reveals that institutions are making a comeback with a strong net fund accumulation drive. Though the number of sales saw a decrease from H2 2018 levels, the total value of transactions was on par with the H2 2018 result.
- Auckland sales increased while Wellington and Christchurch experienced a slight dip
- Net investment activity was dominated by institutions, with the largest three transactions over $100 million, all purchased by overseas managed funds.
- With $740 million, or 39% in sales volume, office was the largest transactional sector in the first half of 2019. Industrial sales followed at 22% or $419 million. Retail sales contributed $268 million or 14% by sales volume and development sites totalled $179 million or 10% of sales volume.