The city centre: will she really be right?
Author:Auckland Council Chief Economist, Shyamal Maharaj, David Norman
Source:Auckland Council Chief Economist
- The city centre has been hit harder than many other parts of Auckland by the effects of the COVID-19 pandemic.
- Watching what happens in the city’s commercial property market has traditionally been a useful bellwether for the wider economy.
- Three key drivers of the commercial property market – occupancy, investment, and construction – all face risks that provide insights into the economy at large.
- COVID-19 has massive implications for the future of our city centre, but it has also revealed a need to revisit the role the city centre plays in how we work, live and play.
- Importantly, the private sector, central and local government will need to play their part in overcoming the challenges that have been accelerated by COVID-19.