High demand for office space, despite hybrid work arrangements

Demand for office space in our major cities is remaining strong despite the popularity of hybrid and working-from-home arrangments, RNZ reveals. JLL NZ head of research Gavin Read said employers were doing all they could to retain staff in a tight labour market – and that meant providing quality offices near transport. Read said there was upward pressure on rents in prime zones such as the lower end of Auckland’s Queen Street. “Certainly if you look at the lower end of Queen Street we’ve got very, very low vacancies,” he said. “The clear theme that we are seeing is… corporates want to provide quality environments for their staff.”