Rent increase Auckland commercial

[King13]

Hi - what has the rent increase been in Auckland area over the past 2-3 years?

We own a property and the valuer put the increase at about 12-14% from the last rent review conducted in 2014. The tenant has come back with a valuer's report which puts the increase in rent at 2.5-3.0% over this period. Hard to believe that rents have gone up so little for a well located, suburban property.

Appreciate any thoughts.

[Davo36]

Totally depends on:

1) What kind of property

2) Which suburb

3) Vacancy rates and increases in that suburb.

How do the 2 reports compare?