Category Archives: Market Comment

Both agencies say they are delighted to have facilitated a significant retail lease in Wellington and thank Stonewood Group and Mitre 10 for the opportunity and their trust throughout the negotiation.

Wellington’s commercial property market, although currently bearish, has historically shown remarkable resilience, presenting astute investors with the opportunity to diversify their portfolios and capitalise on future upturns, according to Ben Castle, CEO of Tommy’s Real Estate.

The state of the market contrasts with the hope and confidence of three months ago, when the prospect of a fresh new government and a decline in interest rates

The calendar year is underway and there is an air of confidence surrounding the property market as a whole.

“Naturally, the future of the country is on everyone’s minds at present,” Tommy’s Group CEO Ben Castle says.

“However, there are pockets of confidence driving activity. Both buyers and sellers, landlords and tenants are managing to complete favourable transactions in the Wellington market.”

“The recent Official Cash Rate announcement, however, signalled more certainty, there-fore confidence will start to filter back into the market and activity will pick up.”