Latest Insights for the city centre

Each quarter, we delve into the latest data for Auckland's city centre. Find out about what’s happening with our spend, foot traffic and accommodation occupancy data, as well as new business news and leasing insights. 

September 2024 Quarterly Insights

The September quarter has been a mixed bag for the city centre.  Our overall foot traffic and spending were down by -9% and -12% respectively. The dip in spend is consistent with national trends for the quarter. Hearteningly, pedestrian counts for the YE September vs. the prior year reveal a +3% increase in foot traffic.

The results for Restaurant Month held in August highlight the benefit of events, with 84% of participating businesses saying the programme “was successful for their business.” A number of new businesses opened their doors and there were some good leasing announcements – including the pending arrival of New Zealand’s first-ever Max Mara on Queen Street. The increase in commercial vacancy rates, at 15.1% by mid-2024 from 14.1% in December 2023 is expected to be short-lived. There is an expectation that “economic and financial conditions improve next year” (JLL), and some major commercial businesses are shifting back into the city centre – Beca and One NZ.

Cuts to the OCR and annual inflation have increased business confidence, some of our significant infrastructure projects are nearing completion and tourism numbers are projected to increase. Each of them offers positive opportunities for the city centre as we head into 2025.

And as we go to press, we’re expecting a bumper weekend thanks to three Coldplay concerts. It’s great to see hotels and accommodation providers full and we expect some good flow on benefits for hospitality and retail, once again demonstrating the benefits of events. 

Read more here.

Insights from previous quarters:

June 2024
March 2024 
December 2023
September 2023
June 2023
March 2023
December 2022
October 2022