COMMERCIAL PROPERTY, SALES & LEASING
WANING sentiment in the office market dragged down NAB’s June quarter Commercial Property Index, as Queensland emerged as the most...
Commercial property market sentiment, as measured by the Index, continued to languish in quarter, with the Index inching down to...
By sector, sentiment remains elevated and lifted further in the bouncy CBD Hotel sector, which was up to 38 points, as property professionals reported a...
The office index fell quite sharply down to -28, with property professionals reporting lower capital and rental growth...
The retail index bounced but was still very weak at -17 pts, amid rising economic headwinds and sluggish consumer spending...
Commercial property confidence levels eased during the quarter, with the 12-month measure falling to -3 and the two-year measure to...
Queensland was the only state to record positive sentiment (8), while Victoria recorded the weakest sentiment by a big margin...
Queensland most confident
Queensland is the only state with positive confidence readings for all market sectors in the next 12 months. Victoria was the only...
Capital growth expectations are highest for industrial property in the next one to two years (0.8% and 1.4% respectively), with prospects highest in...
As the sector faces a reckoning on values, the outlook for offices was also cut further (3.4% and 1.5%) and falling in all states next year...
National office vacancy eased from 9.9% to 9.6% but is still trending above average (8.5%). Vacancy was reportedly lower in all states in...
Retail vacancy rose modestly to 7.0% but ranged from 13.7% in South Australia/Northern Territory to 5.9% in Queensland...
Office rental markets expected to remain under pressure in the next 12 months, and incentives elevated, with average rents...
Property professionals are a little more buoyant about retail rents, now tipped to decline more modestly (-0.4% and -0.1%), with positive returns...
Construction slowdown
The June quarter survey findings reinforce the continuing slow-down seen in construction and building approvals data...
NAB’s survey results also showed a lower number of developers planning to start new building works in the residential sector, down from...
The net number of property professionals who said it was harder to obtain debt to fund their businesses improved but...
More property professionals believe debt funding conditions will worsen over the next three to six months (-37%), with the...