Australia
Sydney industrial transaction volumes up 9% to AUD851m in Q1
This figure is 67% above the 10-year quarterly average.
Brisbane sees 138,500sqm of new industrial space supply in Q1
Over 80% of these completions were pre-committed.
Perth’s office net absorption hits record highs since Q3 2018
The city’s absorption hit 27,200sqm in Q1 2023.
Five projects to add 200,000sqm to Brisbane’s new office supply
The largest project spanning 69,000sqm began construction in Q1.
This was the largest completion in Adelaide’s logistics market in Q1
It was a project spanning nearly 22,000sqm.
Sydney bound to record its lowest office development activity since 2012
Only 19,791sqm of new office stock is expected to be completed in the CBD this year.
Melbourne CBD prime office rents dip 0.5% in Q1
Rents in fringe areas fell a further 1.1% in the same period.
Eight new office projects to be completed in Sydney CBD by next year
These projects will add a total of over 212,100sqm to the city’s stock.
Adelaide overall office vacancy rate down to 16.1% in Q1
But prime office vacancies remain elevated at 17.5%.
Why Canberra recorded -1,300sqm office net absorption in Q1
The headline vacancy rate increased to 7.8% in the same period.
Build-to-rent projects get a boost in Western Australia
The Managed Investment Trust tax for BTR projects was halved from 30% to 15%.
Why Brisbane CBD’s office sector is enjoying robust tenant activity
The flight-to-quality is attracting more workers to go into the offices.
Canberra’s total office stock hits 2.2m sqm
The most recent addition was an 8,000sqm office completed in Q1.
Australia’s retail transaction volumes breach 10-year historical average in Q1
Q1 volumes hit AUD1.3b, surpassing the 10-year average of AUD879m.
Melbourne retail sales volumes hit AUD408m in Q1
This amount represents four transactions.
CBD markets dominate Australia’s Q1 office transaction volumes
Sales totalled AUD1.6b in Q1, over AUD1b of which was from CBD markets.
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It is part of the Singaporean property developer’s ‘reach for the sky’ strategy.
