Australia’s retail transaction volumes breach 10-year historical average in Q1 | Real Estate Asia
119 views

Australia’s retail transaction volumes breach 10-year historical average in Q1

Q1 volumes hit AUD1.3b, surpassing the 10-year average of AUD879m. 

According to a JLL report, reflective of industry-wide construction issues, retail project completions in Australia totalled 42,400 sqm across six assets. 

Landlords remain cautious, avoiding large-scale centre renovations and scaling down construction projects. Project commencements in Q1 2023 equated 46,300 sqm across five new builds and two refurbishment projects. 

Here’s more from JLL:

Mixed rental movements among sub-sectors were recorded in Q1 2023. On an annual basis, rental growth was recorded for all sub-sectors excluding the CBD and regional sub-sectors which declined by 9.8% and stabilised respectively. 

Transaction volumes totalled AUD 1.2 billion in Q1 2023, above the historical 10-year average of AUD 879 million of Q1 sales volumes. Investor demand was concentrated in the sub-regional sub-sector, composing 47% of total sales volumes. Neighbourhood centres accounted for 28% while the sale of a regional centre accounted for 15%. The remaining balance was split between “other” (8%) and large format retail assets (2%).

 

Join Real Estate Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

How Metland Indonesia deals with weaker residential purchasing power
The real estate firm continues to expand with residences that are attractive to consumers because of pricing, the ‘growing house’ concept, and sustainable features.