Retail rents have been rising across all of Auckland’s commercial property sectors, the market snapshots from real estate consultancy JLL show.

Rents are also up across suburban Auckland and Christchurch, according to the snapshots, which examine Q2 market activity across New Zealand’s three main centres.

Wellington is gaining momentum with the completion of Imperial Park in Petone and the opening of Willis Lane retail development.

Gavin Read, JLL NZ head of research, pointed out several key trends emerging in Auckland’s retail market.

“For luxury retailers, size becomes a key consideration, with units in excess of 200sqm proving popular,” Read elaborated.

Despite the lack of retail-only developments in the CBD, many of the new hotel and office buildings are expected to have a retail component, he continued, adding that the City Rail Link is also influencing market activity.

“Landlords are already starting to structure short-term leases to take advantage of the City Rail Link when it opens – and astute tenants seeking favourable rates in a high growth area are currently seeking suitable space.”

Favourable trading performance for most categories has led to an increase in average rents at shopping centres, Read concluded.