RESEARCH
MELBOURNE still holds the lowest CBD retail vacancy in the country as rates tighten across the Australia’s major city markets...
According to CBRE’s latest Australian CBD Retail Vacancy H2 2023 report, the national CBD retail rate hit 12.7% over the period...
“Overall, vacancy has tightened nationally. The return to office, coupled with increased tourism and international student inflows, has led to more foot traffic in CBDs...
Melbourne’s vacancy rate is the lowest in the country at 7.37% and also saw the largest vacancy reduction over the period, dropping 330bps...
“While overall vacancy has declined over the period, tenant preference for vacant space appears to be concentrated in limited locations.”...
“Sydney is viewed as a very good place for international brands to do business, given Australia’s strong and safe economy and consumer spending power,”...
“Retailers are focusing on their connection to consumers, which has resulted in bigger, curated experience stores – a trend we’re seeing across the globe.”...
Brisbane and Perth each saw a marginal tightening over the period to hold vacancy rates of 18.7% and 25.3%% respectively...
In 2023, total retail sales nationally neared $425 billion up 60% compared to a decade earlier, when $259 billion was spent in 2013...
“Bricks and mortar spaces remain highly desirable to retailers in ensuring their brands are vibrant and have a purposeful vibe that fosters a culture of innovation, as evidenced by the...
“Retail sales growth is attributed to consumers seeking to look good and feel good, with the strongest sales being reported in the wellness sector, cafes and restaurants...