NAI Harcourts’ May to July statistics reveal there has been a 33.7% drop in new listings. This is a strong indication of the tightness of the current commercial market. NAI Harcourts General Manager Michael Grainger says there continues to be a lack of high quality stock and vendors are tending to hold on to such property to take advantage of capital gains. This remains a frustration to investors.

There is also hesitancy leading up to the general election, which traditionally brings a slowing in the number of listings. We can expect to see a reversal of this trend after 20 September, as vendors move forward with confidence.

Written volume has jumped by almost 12%, which shows those investments on the market are selling well.

The most striking statistic is the 114% jump in written value.

Grainger says this is on the back of several speculative land deals that have occurred over the past three months. These deals will see the establishment of residential subdivisions in greater Auckland.

Now in its fifth year of operation and with a growing reputation in the commercial arena, NAI Harcourts is also increasingly attracting large, high profile investments. This also accounts for the jump in written value.

NAI Harcourts recently celebrated one of its top offices, Hamilton Commercial, winning at the Real Estate Institute of New Zealand’s annual awards. Harcourts Hamilton was announced as Runner Up in the Small/ Medium Commercial and Industrial Office category. With over 12,000 sales consultants from all the major real estate groups competing, it is an outstanding effort for the office and solidifies NAI Harcourts’ position as a standout leader in the commercial and industrial sector.