Hamilton property positivity hits high
The last quarter of 2013 brought record highs in Hamilton's commercial property confidence, riding on the back of major development wrapping up in the city centre.
The latest data from Colliers' quarterly commercial property investor confidence survey had Hamilton notching up a net positive 31 per cent confidence for the three months to December, a lift of 22 percentage points on the same time last year.
The survey marks a record high in positivity for the city and the fifth consecutive period of confidence growth.
Colliers' Hamilton director Mark Brunton pointed towards the completion of major scale projects like the PwC Centre as the reason for the city's abundant confidence.
"In 2013 things definitely turned the corner," he said. "At some stage everybody agreed there was a genuine uplift across the market."
The three-monthly survey talked to 3854 commercial property stakeholders nationwide about their outlook for commercial property investment in 2014.
The confidence percentage is calculated by taking the proportion of property investors who think things will improve and subtracting the number who believe it will worsen.
New Zealand-wide confidence for the quarter mirrored Hamilton's positivity at an average 31 per cent, up 6 per cent from the previous quarter and also recording confidence at its highest level across the country since the survey started in June 2009.
Christchurch and Auckland shared the title as the most optimistic cities, with commercial property stakeholders there showing 60 per cent net positivity. Queenstown was runner-up at 56 per cent, from 47 per cent the previous quarter.
Tauranga was fourth at 35 per cent positive. Palmerston North property investors were the most pessimistic at negative 16 per cent confidence.