JLL's Auckland industrial market dynamics provide property insights into warehouse vacancy rates, rental trends, and transaction activity across precincts.
Insight
Auckland Industrial Market Dynamics Q3 2025
The overall industrial vacancy rate for the Auckland region increased to 2.9% in 1H25 from 2.4% in 2H24, representing a 42bps rise over the six-month period. On a precinct-by-precinct basis, vacancy rates stand at 2.3% for Auckland City (unchanged since 2H24), 3.8% for Manukau (+70bps since 2H24), 1.6% for North Shore (+30bps since 2H24), 4.7% for North-West (+130bps since 2H24), and 2.8% for Drury.
Rents across all precincts remained unchanged for 3Q25. Prime and secondary average net combined rents stand at NZD 217 per sqm p.a. and NZD 179 per sqm p.a., respectively. Across submarkets, prime average net combined rents stand at NZD 222 per sqm p.a. for Auckland City, at NZD 224 per sqm p.a. for Manukau, at NZD 206 per sqm p.a. for the North Shore, at 252 NZD per sqm p.a. for North-West, and at 216 NZD per sqm p.a. for Drury.
Auckland industrial remains the most active commercial real estate sector in terms of volume and value of transactions. There have been over NZD 652.59 million of sales transactions during 2025 so far which we project will increase as a result of data reporting lags. NZD 226.30 million among these occurred during 3Q25. Around 30% of these transactions have been in the NZD 10.00 million to NZD 20.00 million range. A recent notable transaction was the sale of 39 Hugo Johnston Drive, Penrose for NZD 60.00 million.