Auckland CBD Retail Vacancy Hits 13%, Triple Wellington’s Rate Amid Mixed Pressures
Auckland’s downtown retail vacancy rate stands at 13%, nearly three times Wellington’s 5.3%, driven by overlapping factors. Oversupply plagues areas like Newmarket post-Westfield mall opening, requiring time to absorb excess space, while hybrid work models reduce foot traffic in the city center.
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Investor confidence is recovering, with Sharesies’ quarterly report showing its index fluctuating between 41-55, entering a "balanced" range as investors adopt more rational risk-reward stances. Diversification grows: ETFs and managed funds gain traction, lowering single-stock investments to 64% on average, with Smart US 500 ETF and Vanguard 500 Index Fund popular. Individual stock picks rebounded slightly at quarter-end (top five: Air NZ, NVIDIA, Tesla, Apple, Rocket Lab), but diversification trends persist.
Wellington shows early recovery signs, like rising Lambton Quay footfall. Auckland pins hopes on the CRL rail project, set to finish November 2026. Investors are adjusting strategies, while retailers may need innovative formats to revive vacant spaces.
