With the year drawing to a close, 2017 has been a year of change and growth in many ways.
The New Zealand economy continues to perform strongly while in the commercial property market we’ve seen change in cycle direction with a flattening off as lending restrictions and restrictions on overseas investors begin to bite. Despite the market being of a stop-start nature this year, we’ve managed to keep busy and are proud to have recorded our biggest month ever in September. Our growth as a business reflected in a move to new modern premises in Albert Street and an expansion from our traditional city and fringe focus into central isthmus suburbs like Mt Albert, Onehunga and Mt Roskill and further into North Shore. It’s been great to see the special brand of service we’ve sought to develop as a boutique agency finding favour with clients far and wide as a welcomed point of difference.
In terms of trends this year we’ve been excited by the appetite for creative new uses of industrial or gritty spaces, the rise and rise of co-working spaces such as Biz Dojo, Generator and Qb Studio’s, and it’s also been good to see the activity in the hotels market reflecting high demand from tourists and upcoming developments such as the Convention Centre. The buoyant activity in the commercial market helping us grow as a business — but also helping in our efforts to feed hungry Kiwi kids through Eat My Lunch, by making a donation with each transaction we close — this year seeing us donate over 3,000 lunches to school kids in need!
Looking ahead, it’s hard to predict which way the market will go next year. Lending restrictions are likely to see growth and development ease, but renewed government interest in projects such as light rail will see new and exciting opportunities in suburbs previously seen as less desirable. Whatever lies ahead we’ll continue to deliver the personalised service, and innovative thinking to ensure businesses and investors find the space or investment tailored for their needs.
And on that note, from all of the Wilson Hurst team we wish all our family, friends and clients — a very Merry Christmas, safe New Year holidays and all the best for a prosperous 2018!