commercial property

PHOTO: KEVIN STENT/STUFF Wellington streets are deserted during the national lockdown.

The Covid-19 pandemic has knocked the wind out of the commercial property sector’s sails well before the national lockdown started, a survey shows.

Colliers International’s latest quarterly survey of the sector’s confidence reveals that optimists, in the first half of March at least, outnumbered pessimists, but only by 7 per cent, down from 27 per cent in December last year.

The survey used 1456 responses to get its results and was taken from March 4 to March 12, two weeks before the national lockdown started on March 26 to prevent further spread of the coronavirus Covid-19.

Several regions were more pessimistic about the fortunes of commercial property than the national average, including Rotorua, Palmerston North, Napier-Hastings and Christchurch where pessimists dominated.


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