Auckland is New Zealand’s largest city with a population of 1.5 million and home to more than a third of the country’s population. Over a third of the city’s presence was born overseas, making Auckland the fourth most culturally diverse metropolitan population behind Dubai, Brussels and Toronto. Auckland’s popularity among immigrants to New Zealand has been a primary driver of its rapid population growth, which Statistics NZ anticipate will climb to 2.2 million by 2043.
Serving as a key gateway to Asia Pacific markets, Auckland has the second largest port with more than 30 global and regional shipping lines and processing 950,000 containers a year. For the second-year running, it has also been voted the best seaport in Oceania. One third of New Zealand’s freight transport and logistics companies are based in Auckland, working to efficiently distribute goods around the country.
Auckland’s reputation as leading innovator is on the rise, with a robust innovation environment of start-ups, co-working spaces, technology and innovation hubs, keeping the property cycle going and commercial real estate agents in Auckland busy. The technology sector is sustained by strong networks between government and industry investors which have collaborated to develop tech hubs, incubators and accelerators, significantly impacting commercial real estate market in Auckland. GridAKL, based in Auckland’s Wynyard Quarter cultivates knowledge sharing between 70 tech companies. By 2020 it’s expected GridAKL and the wider innovation precincts in Wynyard Quarter will contribute $450 million annually to Auckland’s economy.
The city’s economy is also supported by strong levels of international education, tourism and construction, with several major developments currently in progress around the city and a vibrant property sector with substantial demand for commercial properties for sale in Auckland.