Auckland is New Zealand’s largest city and region with a population of 1.64 million and is home to approximately one third of the country’s population. As of the 2018 census, 41.6% of Auckland’s population were born overseas, predominantly in Asia, the Pacific Islands, and the United Kingdom. Immigration to New Zealand is concentrated in Auckland due to better economic opportunities, established ethnic enclaves, and accessibility to international travel and is expected to characterise two-thirds of Auckland’s future growth, which is predicted to reach two million by 2033.
Auckland is the economic and financial centre of New Zealand and accounts for 38.1% of the country’s GDP, while being considered a Beta+ world city because of its contribution to commerce, education, and the arts. The professional, scientific, and technical services industry employs 12.1% of the city’s working residents and accounts for 10% of Auckland’s GDP, followed by manufacturing at 9.4% and financial and insurance services at 9.0%. Additionally, the Ports of Auckland, New Zealand’s second largest after Tauranga, is estimated to generate $15 billion of the country’s GDP and provides around 180,000 jobs both directly and indirectly.
The city’s presence as an innovation hub in the Asia-Pacific region has seen the proliferation of over 30,000 sqm of coworking space in Auckland in the last four years, including GridAKL in Wynyard Quarter. It is expected that by 2020, the wider innovation precincts will contribute $450 million annually to Auckland’s economy.
Premium office space in Auckland’s CBD is primarily located around lower Queen St and the waterfront, and is typically occupied by professional and financial service providers. Meanwhile, the largest industrial areas are situated in Onehunga, East Tamaki, and Manukau, but with recent industrial development on the urban fringe, growing business parks have emerged in Westgate and Drury South. Auckland’s commercial property sector observes substantial demand and the city’s economy is supported by significant interest in construction and real estate investment.