Tough times for Auckland retailers with a new report finding a 13 per cent vacancy rate the national record.
Bayley's New Zealand Retail Market Update highlights the difficult circumstances of many shops in our biggest city.
This compares with a vacancy rate of 5.3 per cent in Wellington, 3.9 per cent in Tauranga, 3.3 per cent in Christchurch and 1.9 per cent in Dunedin.
Disruption from the City Rail Link construction is cited as one factor and the post pandemic economic slump another.
This comes as the Prime Minister says the government is concerned about the so-called two speed economy - with cities doing it tougher than provincial towns and pointing to $7 billion of projects coming which he says will boost the Auckland economy, and the country in general.
Bayley's National Director for retail sales and leasing, Chris Beasleigh, says there is hope on the horizon.
