Office Market Report January 2013 Presented by Adrian Harrington Head of Funds Management - Folkestone

Size: px
Start display at page:

Download "Office Market Report January 2013 Presented by Adrian Harrington Head of Funds Management - Folkestone"

Transcription

1 Office Market Report January 2013 Presented by Adrian Harrington Head of Funds Management - Folkestone

2 Jan-95 Jan-96 Jan-97 Jan-98 Jan-99 Jan-00 Jan-01 Jan-02 Jan-03 Source: Property Council of Australia Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 CBD vacancy rate is up, Non CBD vacancy rate remains steady Australian CBD v Non-CBD Vacancy: % 20% 15% Australian CBD 9.1% 9.1% 10% 5% 0% 7.3% 8.1%

3 Source: Property Council of Australia Non CBD market demand was stronger than the CBD markets Australian CBD and Non CBD Vacancy Attribution Six months to January % 1.1% 0.3% 0.8% 10% 9.1% 1.8% 0.8% 9.1% 9% 0.2% 8.1% 8% 7.3% 7% 6% 5% 4% 3% 2% 1% 0% Vacancy July 2012 Additional Office Supply Withdrawals Tenant Demand Vacancy Jan 2013

4 Jan-95 Jan-96 Jan-97 Jan-98 Jan-99 Jan-00 Jan-01 Jan-02 Jan-03 Source: Property Council of Australia Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Employment growth picked up slightly, demand still weak Employment Growth v Australian Demand: % 5% 4% 3% 2% 1% 0% -1% -2% Australian Office Demand Rate

5 East West Perth Chermside Perth CBD Adelaide Wollongong Newcastle Melbourne Sydney CBD North Ryde Southbank North Source: Property Council of Australia Upper Mt Darwin CBD Chatswood Brisbane St Kilda Hobart CBD Adelaide Brisbane Parramatta Canberra Crows Sunshine Gold Coast Wide variation in vacancy rates across the markets CBD & Non-CBD Vacancy Rates January % 20% Australian Office Vacancy 15% 10% 5% 0%

6 Chatswood East Melbourne Upper Mt Gravatt Gold Coast Newcastle* Darwin CBD* St Kilda Road Sydney CBD Australian Non-CBD Chermside Wollongong* North Ryde North Sydney Source: Property Council of Australia Sunshine Coast* Australia Adelaide Fringe Southbank Parramatta Australian CBD Brisbane CBD West Perth Brisbane Fringe Crows Nest/St Leonards Melbourne CBD Perth CBD Adelaide CBD Canberra Hobart CBD* 2 out of 3 markets recorded increases in vacancy Change in vacancy from July % 3% 2% 1% 0% -1% -2% -3% -4% -5% -6%

7 Melbo urne CBD Brisba ne CBD Adelai de CBD Perth CBD Sydne y CBD Darwi n CBD Hobar t CBD Canbe rra Source: Property Council of Australia Perth still has the lowest vacancy rate of the CBD markets CBD Total Vacancy Rates July 2012 and January 2013 Jul-12 Jul-12 Jul-12 Jul-12 Jul-12 Jul-12 Jul-12 Jul-12 July 12 Direct Vacancy Jan 13 Direct Vacancy July 12 Sublease Vacancy Jan 13 Sublease Vacancy 0% 2% 4% 6% 8% 10% 12%

8 (sqm) Source: Property Council of Australia The majority of CBD markets had demand significantly below their historical average CBD Demand Six months to January ,000 30,000 Historical average 20,000 10, ,000-20,000-30,000 Canberra Adelaide CBD Melbourne CBD Sydney CBD Brisbane CBD Perth CBD

9 (sqm) North Ryde Chatswood Parramatta Crows Nest/St Leonards East Melbourne West Perth St Kilda Road Source: Property Council of Australia Sunshine Coast* Gold Coast Newcastle* Adelaide Fringe Wollongong* North Sydney Southbank Brisbane Fringe The top four Non-CBD markets by net absorption are in NSW Non-CBD Demand 25,000 20,000 15,000 10,000 5, ,000-10,000-15,000-20,000 Historical average * market tracked annually

10 (sqm) Brisbane CBD Sydney CBD Melbour ne CBD Source: Property Council of Australia Adelaide Core Canberra Perth CBD Over half a million sqm of space is expect to be supplied to the Sydney CBD market in the short-medium term Future Supply of CBD Markets ( ) 600, , , , , ,000 0 % of current stock 11.50% 10.50% 8.30% 6.10% 6.10% 5.90% Pre-Commitment 39% 39% 63% 47% 62% 46%

11 (sqm) Newcastle Brisbane Fringe Parramatta Wollongong West Perth Gold Coast North Ryde Source: Property Council of Australia Adelaide Fringe Chatswood North Sydney Crows Nest / St Leonards Sunshine Coast St Kilda Road Southbank East Melbourne Upper Mt Gravatt & Macgregor Chermside New supply remains low across most markets Future Supply of Non CBD Markets ( ) 90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 -

12 NSW Office Markets

13 Jan-90 Jan-91 Jan-92 Jan-93 Jan-94 Jan-95 Jan-96 Jan-97 Jan-98 Jan-99 Jan-00 Source: Property Council of Australia Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Sydney CBD vacancy rate has fallen in the last 12 months Sydney CBD Direct v Sublease Vacancy (January 1990-January 2013) 25% 20% Direct Vacancy Sublease Vacancy Historical Average 15% 10% 5% 0%

14 Jan-91 Jan-92 Jan-93 Jan-94 Jan-95 Jan-96 Jan-97 Jan-98 Jan-99 Jan-00 Jan-01 Source: Property Council of Australia Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Demand remains weak Sydney CBD Demand v Vacancy ( ) 25% 20% 15% 10% 5% 0% -5% -10% -15% -20% -25% Demand Rate (RHS) Total Vacancy Rate (LHS) 5% 4% 3% 2% 1% 0% -1% -2% -3% -4% -5%

15 Source: Property Council of Australia Withdrawals were the main driver of the decline in the vacancy rate Sydney CBD Vacancy Attribution Six months to January % 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% 8.1% 1.0% 1.8% Reduction to Vacancy Addition to vacancy 0.2% 7.2 % Vacancy July 2012 Additional Office Supply Withdrawals Tenant Demand Vacancy Jan 2013

16 (sqm) Jan-90 Jan-91 Jan-92 Jan-93 Jan-94 Jan-95 Jan-96 Jan-97 Jan-98 Jan-99 Source: Property Council of Australia Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Negative net supply was the key driver of Sydney s vacancy decrease over the last 12 months Sydney Historical Net Supply 200,000 Historical average 150, ,000 50, , ,000

17 (sqm) Source: Property Council of Australia All grades recorded a decline in the vacancy rate Sydney CBD Vacancy by Grade July 2012 and January , , , % 7.4% 8.4% 8.5% 7.8% 7.2% Historical Average Jul % 80,000 60,000 40,000 20, % 7.8% 6.3% 11.6% 8.4% 8.1% 7.7% 6.5% 0 Premium A B C D

18 (sq m) Jan-91 Jan-92 Jan-93 Jan-94 Jan-95 Jan-96 Jan-97 Jan-98 Jan-99 Jan-00 Jan-01 Jan-02 Source: Property Council of Australia Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-14 Jan-15 Jan-16 Supply is an issue for the Sydney CBD market Sydney CBD Supply ( ) 250, ,000 Forecast Supply Additions 30% 25% 150, ,000 50,000 20% 15% 10% 5% 0 0%

19 Source: Property Council of Australia Vacancy rates are up in all markets expect Chatswood NSW Non CBD Markets Total Vacancy (July 2012 and January 2013) 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% Historical Average Jul 12 Vacancy Jan 13 Vacancy 9.7% 9.0% 8.8% 9.9% 10.0% 7.1% 7.3% 8.8% 7.4% 7.8% 12.0% 10.6% 10.7% Parramatta North Ryde North Sydney Crows Nest / St Leonards 13.7% 11.4% 8.9% Chatswood

20 Source: Property Council of Australia Demand is strongest in Parramatta, Crows Nest/St Leonards and Chatswood NSW Non CBD Markets Demand Rates (July 2012 and January 2013) 5% 4% 3% 2% 1% 0% -1% Historical Average Jul % 0.3% 1.6% 3.3% 2.3% 1.9% 0.5% 0.5% -0.3% -0.4% 2.4% Parramatta North Ryde North Sydney Crows Nest / St Leonards 1.3% 1.6% 0.3% 4.9% Chatswood

21 Other Markets

22 (sq m) Jan-90 Jan-91 Jan-92 Jan-93 Jan-94 Jan-95 Jan-96 Jan-97 Jan-98 Jan-99 Jan-00 Jan-01 Source: Property Council of Australia Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-14 Jan-15 Jan-16 There is only 21,000sqm of space forecast to enter the Brisbane CBD market over next two years Brisbane CBD Gross Supply Forecast: ,000 Forecast Supply Additions 20 Yr Historical Average 150, ,000 50,000 0 Major Projects: 2015 Q4-1 William St - 74,852sqm, 2015Q4-180 Brisbane St - 58,000sqm

23 Jul-91 Jan-92 Jul-92 Jan-93 Jul-93 Jan-94 Jul-94 Jan-95 Jul-95 Jan-96 Jul-96 Jan-97 Jul-97 Jan-98 Jul-98 Jan-99 Jul-99 Jan-00 Jul-00 Jan-01 Jul-01 Jan-02 Jul-02 Jan-03 Jul-03 Jan-04 Jul-04 Jan-05 Jul-05 Jan-06 Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Source: Property Council of Australia Tenant demand in the six months to January 2013 was significantly lower than the historic average Brisbane CBD Historical 6 month Demand Rate: % 3% 20 Yr Historical Average 2% 1% 0% -1% -2% -3%

24 (sq m) Jan-90 Jan-91 Jan-92 Jan-93 Jan-94 Jan-95 Jan-96 Jan-97 Jan-98 Jan-99 Jan-00 Jan-01 Source: Property Council of Australia Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-14 Jan-15 Jan-16 Less than 20,000sqm of space is due to come online in Perth CBD for each of the next four survey periods Perth CBD Gross Supply Forecast: , , , , ,000 80,000 60,000 40,000 20,000 0 Forecast Supply Additions 20 Yr Historical Average Major Projects 2015 Q2-28 Barrack St - 30,196sqm

25 Source: Property Council of Australia Negative net absorption in the prime segment caused Perth vacancy to increase Perth CBD Net Absorption by Grade Six Months to January ,000 15,000 10,000 5, ,000-10,000-15,000-20,000-25,000 Historical average Total P A B C D

26 Jul-91 Jan-92 Jul-92 Jan-93 Jul-93 Jan-94 Jul-94 Jan-95 Jul-95 Jan-96 Jul-96 Jan-97 Jul-97 Jan-98 Jul-98 Jan-99 Jul-99 Jan-00 Jul-00 Jan-01 Jul-01 Jan-02 Jul-02 Jan-03 Jul-03 Jan-04 Jul-04 Jan-05 Jul-05 Jan-06 Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Source: Property Council of Australia Demand in Melbourne CBD was the lowest seen since July 2009 Melbourne CBD Historical 6 month Demand Rate: % 20 Yr Historical Average 5% 4% 3% 2% 1% 0% -1% -2% Demand Rate = Change in Occupied Stock / Previous Stock

27 (sq m) Jan-90 Jan-91 Jan-92 Jan-93 Jan-94 Jan-95 Jan-96 Jan-97 Jan-98 Jan-99 Jan-00 Jan-01 Source: Property Council of Australia Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-14 Jan-15 Jan ,000sqm of space is due to enter the Melbourne market in the first six months of 2013 Melbourne CBD Gross Supply Forecast 300, ,000 Forecast Supply Additions 20 Yr Historical Average 200, , ,000 50,000 0 Major Project 2013 Q2-700 Bourke St - 61,300sqm

28 Source: Property Council of Australia Property Council Research National Research Team John Nguyen National Research Manager Tom Foster Senior Research Analyst Emma Scarf Research Analyst Akina Lay Information Analyst Lindsay Haertsch Information Analyst Ryan Farrow Information Analyst Disclaimer While the material contained in this publication is based on information which the Property Council of Australia (including its Directors, officers, employees and agents, hereafter referred to as PCA) understands to be reliable, its accuracy and completeness cannot be guaranteed. This publication is general and does not take into account the particular circumstances or needs of any person who may read it. You should obtain independent advice from suitably qualified consultants and professionals before making any decisions in relation to the contents of this publication. The PCA is not liable and accepts no responsibility for any claim, loss or damage of whatever nature suffered by any person or corporation who relies or seeks to rely on any information, advice or opinion contained in this publication, or otherwise given by the PCA. Copyright This publication is copyright. The PCA is the copyright owner. Except as permitted under the Copyright Act 1968 (Cth), no part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic or otherwise, without the permission of the copyright owner. Linda Yi Information Analyst lyi@propertyoz.com.au

29 Panel Slides

30 AUDmn, 6mma Source: ANZ, ASX, Bloomberg Index, 6mma Financial markets turnover has been weakening since the GFC Financial markets turnover ASX All Ords Turnover ASX All Ords Index (RHS)

31 Source: Knight Frank Research Comment Sydney CBD Office Yield v Australian Nominal 10 Year Bond ( )

32 Source: ANZ, FIRB Foreign Investment Review Board approvals for real estate continue to increase Foreign Investment Review Board Approvals (AUD bn, financial year) / / / / / /12 0 Real estate Finance, insurance and services

Office Market Report July 2014

Office Market Report July 2014 Office Market Report July 2014 Australian Non CBD vacancy is less than that of the CBD for this first time since January 2001 Australian CBD v Non CBD Vacancy July 1990 to July 2014 25% Australian CBD

More information

New CBD office supply is improving the quality of stock

New CBD office supply is improving the quality of stock Australia Office, Q3 215 New CBD office supply is improving the quality of stock National CBD WCE Jun-15.9% p.a National CBD Net Absorption 215 153,sqm F National CBD Net Supply 215 361,sqm F National

More information

Sydney Metropolitan Office

Sydney Metropolitan Office CBRE Sydney Metropolitan Office www.cbre.com.au/research Third Quarter 211 Quick Stats Change from last Yr. Qtr. Economic Growth White collar employment New supply Net absorption Total Vacancy Prime rents

More information

GOLD COAST OFFICE OVERVIEW

GOLD COAST OFFICE OVERVIEW GOLD COAST OFFICE OVERVIEW JANUARY 2014 Gold Coast OVERVIEW Gold Coast office stock at January 2014 totalled 459,890 sqm, down by almost 4,000 sqm on the mid-year stock level. Around 2,000 sqm of refurbished

More information

A Conversation With Folkestone. November 2017

A Conversation With Folkestone. November 2017 A Conversation With Folkestone November 2017 1 POPULATION GROWTH BY STATE Australian Population Growth by State: March 2017 Population (m) Growth in Year ( 000) % Change in Year VIC 6.3 149.4 2.4 ACT 0.4

More information

Demand set to continue for Sydney Suburban Office

Demand set to continue for Sydney Suburban Office March 2012 Demand set to continue for Sydney Suburban Office Key Points Buyer activity was steady in the Sydney Suburban office market, with interest directed towards prime Suburban assets. Prime yields

More information

m3commentary MELBOURNE CBD OFFICE

m3commentary MELBOURNE CBD OFFICE m3commentary MELBOURNE CBD OFFICE Spring 2016 Key Research Contacts: Jennifer Williams National Director NSW (02) 8234 8116 Erin Obliubek Research Manager VIC (03) 9605 1075 Casey Robinson Research Manager

More information

The Melbourne CBD: What is driving centralisation?

The Melbourne CBD: What is driving centralisation? November 2013 The Melbourne CBD: What is driving centralisation? Key Points Jones Lang LaSalle recorded a notable increase in the number of city Fringe 1 occupiers migrating to the Melbourne CBD over the

More information

GOLD COAST OFFICE OVERVIEW

GOLD COAST OFFICE OVERVIEW GOLD COAST OFFICE OVERVIEW Q1 2015 Gold Coast OVERVIEW Gold Coast office stock at January 2015 totalled 472,022sqm, up by just over 12,000sqm over the past year. The only new building completed in 2014,

More information

QUARTERLY UPDATE 31 MARCH 2017

QUARTERLY UPDATE 31 MARCH 2017 AUSTRALIAN PROPERTY OPPORTUNITIES FUND QUARTERLY UPDATE 31 MARCH 2017 The Australian Property Opportunities Fund (APOF I or the Fund) is pleased to provide this update for the March quarter 2017 (Q1 2017)

More information

market-view Australian housing markets report Residential construction on the rise - higher and higher?

market-view Australian housing markets report Residential construction on the rise - higher and higher? Australian housing markets report Residential construction on the rise - higher and higher? Dr Andrew Wilson Chief Economist Domain Group October 2016 Copyright 2016 Dr Andrew Wilson all rights reserved

More information

LMW Link. Brisbane CBD Office ~ August For more information. Brisbane CBD Office Indicators

LMW Link. Brisbane CBD Office ~ August For more information. Brisbane CBD Office Indicators ~ August 216 Indicators Indicator Jul 214 Jan 215 Jul 215 Jan 216 Jul 216 Total Stock 2,199,1 2,193,83 2,158,29 2,157,34 2,261,878 Vacancy Rate 14.7% 15.5% 14.9% 14.9% 16.9% Annual Net Absorption (sq m)

More information

Assessing the long-term potential of Macquarie Park

Assessing the long-term potential of Macquarie Park Assessing the long-term potential of Macquarie Park March 2016 Summary The Macquarie Park office market acts as a business cluster for companies in the health, education and technology sectors. The cluster

More information

GOING PLACES MACARTHURCOOK OFFICE PROPERTY TRUST

GOING PLACES MACARTHURCOOK OFFICE PROPERTY TRUST GOING PLACES MACARTHURCOOK OFFICE PROPERTY TRUST ANNUAL REPORT 2006 1 2 3 4 1 2 181 Miller Street, North Sydney, NSW 150 170 Leichhardt Street, Spring Hill, Brisbane, QLD 3 4 38 Akuna Street, Canberra,

More information

GREATER SYDNEY SUPPLY & DEMAND. Tourism Accommodation Australia 31 May 2017

GREATER SYDNEY SUPPLY & DEMAND. Tourism Accommodation Australia 31 May 2017 GREATER SYDNEY SUPPLY & DEMAND Tourism Accommodation Australia 31 May 2017 OVERVIEW 1 Trading Performance 4 Summary 2 Supply & Demand 5 Questions 3 Hotel Investment Market TRADING PERFORMANCE Sydney City

More information

Australian Property Directions Survey Commercial, Industrial, Retail and Trusts

Australian Property Directions Survey Commercial, Industrial, Retail and Trusts Australian Property Directions Survey Commercial, Industrial, Retail and Trusts NOVEMBER 2016 This is the 36th API Australian Property Directions Survey conducted by the Australian Property Institute.

More information

The Australian Property Institute Inc. Australian Property Directions Survey

The Australian Property Institute Inc. Australian Property Directions Survey The Australian Property Institute Inc. Australian Property Directions Survey SEPTEBER 2012 T his is the 29th API Australian Property Directions Survey conducted by the Australian Property Institute (NSW

More information

Sydney CBD Office Market

Sydney CBD Office Market WINTER 2016 MARKET TRENDS Leasing demand strong, led by take-up in the property services, education and finance and insurance sectors. Supply levels high over 2015 Stock withdrawals to increase in 2016

More information

Australia s Cities: Opportunities & Challenges

Australia s Cities: Opportunities & Challenges DEPARTMENT OF THE PRIME MINISTER AND CABINET Australia s Cities: Opportunities & Challenges Cities Division 1 Australia s 21 Biggest Cities Economic Activity is Concentrated in Cities 2% 8% Sources: Grattan

More information

Continued yield compression in regional markets

Continued yield compression in regional markets MARKETVIEW Australia Hotels Q3 Continued yield compression in regional markets $18 $1 7.7% 7.2 million +9% *Arrows indicate change from previous year. Key Points ASIAN INVESTORS DOMINATE TRANSACTIONS Annual

More information

Occupancy softening across major markets

Occupancy softening across major markets Australia Hotels, Q3 218 softening across major markets $188 $143 7.8% Arrivals YE Mar-18 8.3million Visitor Spend YE Jun-18 7. *Arrows indicate change from previous year. Key Points Annual growth for

More information

CoreLogic Property Market Indicator Summary All data to week ending 18 February 2018

CoreLogic Property Market Indicator Summary All data to week ending 18 February 2018 As auction volumes return to more normal levels after the festive period slowdown, auction clearance rates are holding higher than late 2017 A preliminary auction clearance rate of 69.1 per cent was recorded

More information

Australia Office MarketView

Australia Office MarketView Australia Office MarketView Q4 212 QUARTERLY GDP.5% OFFICE JOBS GROWTH -.8% CBD OFFICE VACANCY 8.1% PRIME RENTAL GROWTH +3.2% CBRE Global Research and Consulting PRIME YIELD 7.45% Q412 INVESTMENT VOLUME

More information

State of the States October 2017 State & territory economic performance report. Executive Summary

State of the States October 2017 State & territory economic performance report. Executive Summary State of the States October 2017 State & territory economic performance report. Executive Summary NSW ON TOP; VICTORIA CLOSES IN How are Australia s states and territories performing? Each quarter CommSec

More information

CoreLogic Property Market Indicator Summary All data to week ending 11 November 2018

CoreLogic Property Market Indicator Summary All data to week ending 11 November 2018 As the number of held continues the seasonal rise, clearance rates are consistently trending lower, with the weighted average clearance rate recording seven weeks in a row below There were 2,384 held across

More information

Expenditure Share of Visitors Visitor Expenditure expenditure nights per visitor

Expenditure Share of Visitors Visitor Expenditure expenditure nights per visitor Table 23 Modelled domestic overnight visitor expenditure (a) in the top 20 regions ranked by expenditure, including airfares and long distance transport costs Year ended 31 March 2010 (a) (b) Expenditure

More information

NORTH SHORE OFFICE SEPTEMBER 2018 RESEARCH

NORTH SHORE OFFICE SEPTEMBER 2018 RESEARCH Strong tenant demand across the North Shore is expected to see net absorption average 55, sq m per annum over the next two years, underpinned by new market entrants and continued employment growth. Gross

More information

Darwin and The Gold Coast shine

Darwin and The Gold Coast shine MARKETVIEW Australia Hotels, Q2 218 Darwin and The Gold Coast shine $188 $144 76.4% 8.3million 6.% *Arrows indicate change from previous year. Key Points DARWIN AND GOLD COAST PIP ADELAIDE AND CAIRNS AS

More information

STATISTICAL REPORT. Aviation

STATISTICAL REPORT. Aviation STATISTICAL REPORT Aviation Domestic airline on time performance September 2015 Commonwealth of Australia 2015 ISSN: 1832-0759 Ownership of intellectual property rights in this publication Unless otherwise

More information

Property Flipping Report. Prepared by CoreLogic

Property Flipping Report. Prepared by CoreLogic Property Flipping Report Prepared by CoreLogic About CoreLogic About CoreLogic CoreLogic Australia is a wholly owned subsidiary of CoreLogic (NYSE: CLGX), which is the largest property data and analytics

More information

Quarter Time National Office Q4/2018

Quarter Time National Office Q4/2018 Savills Research Australia Quarter Time National Office CBD Averages A Grade National Office N.F. Rent N.E. Rent Market Yield IRR Cap. Value Sydney CBD 1,090 (9.0%) 870 (8.1%) 4.75 (-20bps) 6.65 (-5bps)

More information

CoreLogic Property Market Indicator Summary All data to week ending 24 June 2018

CoreLogic Property Market Indicator Summary All data to week ending 24 June 2018 Preliminary clearance rate improves across the combined capital cities over the week The preliminary clearance rate increased to 58.7 per cent this week, after last week saw the final clearance rate revise

More information

MARKET OUTLOOK. 01 Walkability & Accessibility 02 Infrastructure & Employment 03 Population & Demographics 04 Residential Market 05 Rental Market

MARKET OUTLOOK. 01 Walkability & Accessibility 02 Infrastructure & Employment 03 Population & Demographics 04 Residential Market 05 Rental Market MARKET OUTLOOK BRAYBROOK Close to the city in Melbourne s growing west, access to jobs, services and relative affordability are attracting new residents to Braybrook and driving price growth. 01 Walkability

More information

CoreLogic Property Market Indicator Summary All data to week ending 21 May 2017

CoreLogic Property Market Indicator Summary All data to week ending 21 May 2017 Preliminary figures show 77.2 per cent of auctions were successful across the combined capital cities, while auction activity rises week-on-week Auction activity across the combined capital cities increased

More information

STATISTICAL REPORT. Aviation

STATISTICAL REPORT. Aviation STATISTICAL REPORT Aviation Domestic airline on time performance March 2017 Commonwealth of Australia 2017 ISSN: 1832-0759 Ownership of intellectual property rights in this publication Unless otherwise

More information

CoreLogic Property Market Indicator Summary All data to week ending 3 December 2017

CoreLogic Property Market Indicator Summary All data to week ending 3 December 2017 Auction volumes lower slightly, while the preliminary clearance rate rises to 63.5 per cent There were 3,276 held across the combined capital cities this week, returning a preliminary auction clearance

More information

PEAK DOWNTURN UPSWING TROUGH RECOVERY

PEAK DOWNTURN UPSWING TROUGH RECOVERY MARKET OUTLOOK PROPERTY CYCLE UPSWING PEAK TROUGH DOWNTURN RECOVERY TEN CYCLES SINCE 1880 AVERAGE 8 YEARS 5 YEARS UPSWING @ 11% pa 3 YEARS DOWNTURN @ - 5% pa PAST CYCLES AVG 8.5% PA PROPERTY CYCLE? 1.

More information

RESEARCH. With the majority of new supply over the next two years precommitted,

RESEARCH. With the majority of new supply over the next two years precommitted, RESEARCH With the majority of new supply over the next two years precommitted, vacancy rates are forecast to remain low across both the North Shore and Macquarie Park precincts. Strong demand for secondary

More information

btre AVIATION STATISTICS Airline On Time Performance FY OTP 48

btre AVIATION STATISTICS Airline On Time Performance FY OTP 48 Bureau of Transport and Regional Economics btre AVIATION STATISTICS Airline On Time Performance FY 2006-07 OTP 48 Commonwealth of Australia 2007 ISSN 1832-0759 This work is copyright and the data contained

More information

Housing market report

Housing market report Australian capital cities and Gold Coast residential property market Prepared May Dr Andrew Wilson, Senior Economist Australian Property Monitors Housing markets strengthen as rates fall again. National

More information

The Residential Outlook for South Australia

The Residential Outlook for South Australia The Residential Outlook for South Australia Matthew King Economist HOUSING INDUSTRY ASSOCIATION February 2011 Overview Economic backdrop Other important matters Interest rates & bank lending Renovations

More information

Annual Net Absorption (sq m) Annual Net Additions (sq m)

Annual Net Absorption (sq m) Annual Net Additions (sq m) RESEARCH Jan-8 Jan-9 Jan-1 Jan-11 Jan-12 Jan-13 Jan-19 Jan-2 CBD total vacancy fell from 6.5% to 4.6% in the 12 months to January 218, the lowest level since July 28. The CBD recorded the strongest net

More information

Economic Performance of Australia s Cities and Regions Embargoed until Tuesday 5 December 2017

Economic Performance of Australia s Cities and Regions Embargoed until Tuesday 5 December 2017 Economic Performance of Australia s Cities and Regions Embargoed until Tuesday 5 December 2017 Media Release Tuesday 5 December 2017: New research released today by SGS Economics & Planning (SGS) reveals

More information

What will a broad-based economic recovery mean for the Brisbane office leasing market?

What will a broad-based economic recovery mean for the Brisbane office leasing market? 2 21 22 23 24 25 26 27 28 29 21 211 212 213 214 215 216 What will a broad-based economic recovery mean for the Brisbane office leasing market? December 216 Summary Introduction Vacancy in the Brisbane

More information

CoreLogic Property Market Indicator Summary All data to week ending 25 March 2018

CoreLogic Property Market Indicator Summary All data to week ending 25 March 2018 Auction activity reaches its highest level not only over the year-to-date, but the highest volume of auctions ever recorded across the combined capital cities and Melbourne individually The pre-easter

More information

STATISTICAL REPORT. Aviation

STATISTICAL REPORT. Aviation STATISTICAL REPORT Aviation Domestic airline on time performance August 2016 Commonwealth of Australia 2016 ISSN: 1832-0759 Ownership of intellectual property rights in this publication Unless otherwise

More information

STATISTICAL REPORT. Aviation

STATISTICAL REPORT. Aviation STATISTICAL REPORT Aviation Domestic airline on time performance December 2015 Commonwealth of Australia 2016 ISSN: 1832-0759 Ownership of intellectual property rights in this publication Unless otherwise

More information

Briefing Parramatta Office February 2018

Briefing Parramatta Office February 2018 Savills Research Briefing Parramatta Office Highlights The overall vacancy rate in Parramatta s office market fell further in December 2017 to 3.0% from 4.6% a year prior; Interest from local institutional

More information

AVIATION STATISTICS. Airline On Time Performance Annual Report OTP 55

AVIATION STATISTICS. Airline On Time Performance Annual Report OTP 55 AVIATION STATISTICS Airline Performance 2007 Annual Report OTP 55 BITRE Aviation Statistics OTP 55 Commonwealth of Australia 2008 ISSN 1832-0759 This work is copyright and the data contained in this publication

More information

MARKET OUTLOOK. 02 Walkability & Accessibility 04 Infrastructure & Employment 05 Population & Demographics 06 Residential Analysis 07 Rental Analysis

MARKET OUTLOOK. 02 Walkability & Accessibility 04 Infrastructure & Employment 05 Population & Demographics 06 Residential Analysis 07 Rental Analysis MARKET OUTLOOK ROCHEDALE With easy access to the major arterial roads and public transport links, Rochedale s connectivity has positioned it as a major growth precinct for the future. 02 Walkability &

More information

STATISTICAL REPORT. Aviation

STATISTICAL REPORT. Aviation STATISTICAL REPORT Aviation Domestic airline on time performance April 2017 Commonwealth of Australia 2017 ISSN: 1832-0759 Ownership of intellectual property rights in this publication Unless otherwise

More information

ADELAIDE RESEARCH OFFICE MARKET OVERVIEW SEPTEMBER 2015 HIGHLIGHTS

ADELAIDE RESEARCH OFFICE MARKET OVERVIEW SEPTEMBER 2015 HIGHLIGHTS RESEARCH ADELAIDE OFFICE MARKET OVERVIEW SEPTEMBER 215 HIGHLIGHTS The Adelaide CBD vacancy rate remains unchanged at 13.5% in the six months to July 215. However, vacancy in prime space has decreased while

More information

Briefing Sydney CBD Office September 2018

Briefing Sydney CBD Office September 2018 Savills Research New South Wales Briefing Sydney CBD Office Highlights Vacancy fell to 4.6% in June 2018 with an outlook to continue to fall until 2019/2020; Rental and capital growth continued with signs

More information

The Cairns Property Market. Presented by Rick Carr Research Director, Herron Todd White 28 July 2015

The Cairns Property Market. Presented by Rick Carr Research Director, Herron Todd White 28 July 2015 The Cairns Property Market Presented by Rick Carr Research Director, Herron Todd White 28 July 2015 National Market Dubbo Gippsland Horsham Latrobe Valley Newcastle Sydney Tamworth Toowoomba W ollongong

More information

btre AVIATION STATISTICS Airline On Time Performance 2006 OTP 41

btre AVIATION STATISTICS Airline On Time Performance 2006 OTP 41 Bureau of Transport and Regional Economics btre AVIATION STATISTICS Airline On Time Performance 2006 OTP 41 BTRE AVIATION STATISTICS OTP 41 Commonwealth of Australia 2007 ISSN 1832-0759 This work is copyright

More information

Office Market Report. Australian CBD. First Half 2017 HIGHLIGHTS INSIDE THIS ISSUE: Australian Overview 2. Sydney 3. Melbourne 6.

Office Market Report. Australian CBD. First Half 2017 HIGHLIGHTS INSIDE THIS ISSUE: Australian Overview 2. Sydney 3. Melbourne 6. 1 Office Market Report Australian CBD First Half 217 HIGHLIGHTS Over the last five years, Australia s total office stock increased by 4.8% to over twenty five million square metres. Sydney CBD s office

More information

Herron Todd White. South East Queensland Property Overview. Thursday, 17 November 2011 Sofitel, Brisbane.

Herron Todd White. South East Queensland Property Overview. Thursday, 17 November 2011 Sofitel, Brisbane. Herron Todd White South East Queensland Property Overview Thursday, 17 November 2011 Sofitel, Brisbane 1300 880 489 1 Alan Key Environmental Offsets Thursday, 17 November 2011 1300 880 489 Identity Earthtrade

More information

AVIATION STATISTICS. Airline On Time Performance 2009 OTP 83

AVIATION STATISTICS. Airline On Time Performance 2009 OTP 83 AVIATION STATISTICS Airline Performance 2009 OTP 83 Commonwealth of Australia 2010 ISSN 1832 0759 This work is copyright and the data contained in this publication should not be reproduced or used in any

More information

MELBOURNE CBD RESEARCH OFFICE MARKET OVERVIEW SEPTEMBER 2017 HIGHLIGHTS

MELBOURNE CBD RESEARCH OFFICE MARKET OVERVIEW SEPTEMBER 2017 HIGHLIGHTS RESEARCH MELBOURNE CBD OFFICE MARKET OVERVIEW SEPTEMBER 2017 HIGHLIGHTS New supply in the Melbourne CBD office market will be significantly constrained over the next 12 months, with vacancy projected to

More information

Office Market Report

Office Market Report 1 Office Market Report Sydney Metropolitan First Half 217 HIGHLIGHTS The strong office market in Sydney CBD is reiterated by its lowest vacancy rates out of all major cities around Australia, as well as

More information

ADELAIDE RESEARCH OFFICE MARKET OVERVIEW AUGUST 2017 HIGHLIGHTS

ADELAIDE RESEARCH OFFICE MARKET OVERVIEW AUGUST 2017 HIGHLIGHTS ADELAIDE OFFICE MARKET OVERVIEW AUGUST HIGHLIGHTS Average Prime incentives in the CBD Core now average 36.3% and typically range between 35% to 4%, compared with 3% to 35% in the second half of 216. Offshore

More information

STATISTICAL REPORT. Aviation. Domestic airline on time performance

STATISTICAL REPORT. Aviation. Domestic airline on time performance STATISTICAL REPORT Aviation Domestic airline on time performance 2016-17 Commonwealth of Australia 2017 ISSN: 1832-0759 Ownership of intellectual property rights in this publication Unless otherwise noted,

More information

Sydney CBD Market Commercial Market Overview - Jul 2015

Sydney CBD Market Commercial Market Overview - Jul 2015 Sydney CBD Market Commercial Market Overview - Jul 2015 Contents The Sydney CBD Market... 4 The Sydney CBD Market - Summary... 5 The Sydney CBD Market - Overview... 6 The Sydney CBD Market - Commercial

More information

AVIATION STATISTICS. Airline On Time Performance 2008 OTP 69

AVIATION STATISTICS. Airline On Time Performance 2008 OTP 69 AVIATION STATISTICS Airline Performance 2008 OTP 69 Commonwealth of Australia 2009 ISSN 1832 0759 This work is copyright and the data contained in this publication should not be reproduced or used in any

More information

DEXUS Property Group (ASX: DXS) ASX release

DEXUS Property Group (ASX: DXS) ASX release 11 February 2016 DEXUS and DWPF acquire North Sydney site for premium office development DEXUS Property Group (DEXUS) and DEXUS Wholesale Property Fund (DWPF) today announced that they have jointly entered

More information

CoreLogic Quarterly Rental Review

CoreLogic Quarterly Rental Review CoreLogic Quarterly Rental Review December Quarter 2017 Rental rates are increasing as yield flatten out On a national basis, weekly rents increased by 0.1% in December 2017 to be 0.3% higher over the

More information

EDITION 785 PROPERTYWATCH The Week in Australian Property 5th August 2015

EDITION 785 PROPERTYWATCH The Week in Australian Property 5th August 2015 RESEARCH EDITION 785 The Week in Australian Property 5th August 2015 Office Market Straits Real Estate has purchased 114 William Street in the Melbourne CBD for $125m. The 21,000sq.m office building has

More information

MARCH 2018 CHARTER PACK

MARCH 2018 CHARTER PACK MARCH 218 CHARTER PACK Image: Truganina Distribution Facility, 485 Dohertys Road, Truganina Vic. FEATURE ARTICLE Will Melbourne s west be Australia s Inland Empire? THE ONCE UNASSUMING, HUMBLE SHEDS OF

More information

HIA-RP Data Residential Land Report

HIA-RP Data Residential Land Report HIA-RP Data Residential Land Report March Qtr 29 Land s Back on the Rise The latest HIA-RP Data Residential Land Report highlights a rebound in raw land values following some moderation over 28. Median

More information

74 Pirie Street (1,500m²), a 7 storey building is currently being refurbished by Maras Group and is expected to be completed in Q

74 Pirie Street (1,500m²), a 7 storey building is currently being refurbished by Maras Group and is expected to be completed in Q RESEARCH Jul-7 Jul-8 Jul-9 Jul- Jul-11 Jul-12 Jul-13 Jul-14 Jul-15 Jul-16 Jul-17 Jul-18 Jul-19 Jul-2 CBD prime yields firmed by 12 basis points from an average of 7.13% to 7.1% in the six months to January

More information

Positive economic outlook for South Australia

Positive economic outlook for South Australia RESEARCH The Adelaide CBD vacancy rate declined from 15.% to 1.7% in the six months to July 1. This tightening of the vacancy rate is expected to continue due to the increase in the level of tenant enquiries

More information

Housing Outlook. Mr Sam White, Ray White Group Mr Harley Dale, Housing Industry Association. 29 October 2007

Housing Outlook. Mr Sam White, Ray White Group Mr Harley Dale, Housing Industry Association. 29 October 2007 Housing Outlook Mr Sam White, Ray White Group Mr Harley Dale, Housing Industry Association 29 October 2007 Australian Business Economists October 2007 Presented by Sam White Average Prices 700,000 600,000

More information

Briefing Brisbane CBD Office August 2017

Briefing Brisbane CBD Office August 2017 Savills Research Queensland Briefing Brisbane CBD Office Highlights A turnaround has become evident in Brisbane with absorption of prime grade stock leading the nation and double digit growth evident in

More information

Dexus Property Group INVESTOR PORTFOLIO

Dexus Property Group INVESTOR PORTFOLIO Dexus Property Group INVESTOR PORTFOLIO 31 December 2017 www.dexus.com Table of Contents GP Plus Healthcare Centre, 16 Playford Boulevard, Elizabeth 1 15-23 Whicker Road, Gillman 1 Westfield West Lakes,

More information

Property Report NSW / ACT

Property Report NSW / ACT Property Report NSW / ACT National overview Looking back over 2011 it s clear that the Australian property market was and in early 2012, still is far from homogenous. Cooler market conditions in many areas

More information

AVIATION STATISTICS. Airline On Time Performance. September 2009 OTP 79

AVIATION STATISTICS. Airline On Time Performance. September 2009 OTP 79 AVIATION STATISTICS Airline Performance September 2009 OTP 79 Commonwealth of Australia 2009 ISSN 1832 0759 This work is copyright and the data contained in this publication should not be reproduced or

More information

A CUSHMAN & WAKEFIELD RESEARCH PUBLICATION SYDNEY S NORTH SHORE. Office Markets DECEMBER 2017 CITIES INTO ACTION

A CUSHMAN & WAKEFIELD RESEARCH PUBLICATION SYDNEY S NORTH SHORE. Office Markets DECEMBER 2017 CITIES INTO ACTION A CUSHMAN & WAKEFIELD RESEARCH PUBLICATION SYDNEY S NORTH SHORE Office Markets DECEMBER 2017 CITIES INTO ACTION CITIES INTO ACTION CONTENTS MARKET OVERVIEW...3 HIGHLIGHTS...4 LEASING MARKET...9 INVESTMENT

More information

Asian tourist growth boosting hotel performance

Asian tourist growth boosting hotel performance Visitors Australia Hotels Q2 Asian tourist growth boosting hotel performance $18 $139 7.7% 7.1 million +8% *Arrows indicate change from previous year. Key Points CONTINUED STRONG GROWTH FROM THE ASIAN

More information

AVIATION STATISTICS. Airline On Time Performance. March 2009 OTP 72

AVIATION STATISTICS. Airline On Time Performance. March 2009 OTP 72 AVIATION STATISTICS Airline Performance March 2009 OTP 72 Commonwealth of Australia 2009 ISSN 1832 0759 This work is copyright and the data contained in this publication should not be reproduced or used

More information

Investor Briefings First-Half FY2016 Financial Results

Investor Briefings First-Half FY2016 Financial Results Cedar Woods Properties Limited Investor Briefings First-Half FY2016 Financial Results 26 February 2016 Cedar Woods Presentation 2 Snapshot of Achievements in FY2016 Extensive portfolio of residential estates

More information

Buoyant Melbourne CBD office market underpinned by a healthy economy

Buoyant Melbourne CBD office market underpinned by a healthy economy RESEARCH CBD total vacancy fell from 5.9% to 3.6% in the 12 months to July 2018, the lowest level recorded in ten years. Prime and secondary effective rents grew by 7.2% y.o.y and 14.5% y.o.y respectively

More information

STATISTICAL REPORT. Aviation. Domestic airline on time performance

STATISTICAL REPORT. Aviation. Domestic airline on time performance STATISTICAL REPORT Aviation Domestic airline on time performance 2015-16 Commonwealth of Australia 2016 ISSN: 1832-0759 Ownership of intellectual property rights in this publication Unless otherwise noted,

More information

Australian Capital Markets Q Accelerating success. THE HUNT FOR YIELD. Australian Capital Markets Q The Hunt For Yield

Australian Capital Markets Q Accelerating success. THE HUNT FOR YIELD. Australian Capital Markets Q The Hunt For Yield Australian Capital Markets Q3 2016 Accelerating success. THE HUNT FOR YIELD Australian Capital Markets Q3 2016 The Hunt For Yield Global unease position Australia favourably as an investment destination

More information

Briefing Brisbane Fringe Office February 2018

Briefing Brisbane Fringe Office February 2018 Savills Research Briefing Brisbane Fringe Office Highlights The Queensland economy continues to show strong signs of recovery, with economic growth for the state recorded at 3.0% over the year to September

More information

Increase in CBD demand causes asking rates to rise

Increase in CBD demand causes asking rates to rise MARKETVIEW Norfolk Office, Q4 16 Increase in CBD demand causes asking rates to rise Rate.2% CBD Rate.1% Asking Rate $18.85 PSF FS (10,707) SF 190,080 SF *Arrows indicate change from previous quarter. Figure

More information

Property Market Report

Property Market Report Property Market Report New South Wales September Quarter 2017 HIGHLIGHTS The July 2017 Office Market Report indicates that there has been an addition of approximately 83,500 square metres of office space

More information

Australia s Building Industry current conditions and future prospects

Australia s Building Industry current conditions and future prospects Australia s Building Industry current conditions and future prospects Dr Harley Dale HIA Chief Economist Alpine Nurseries Business Seminar Tuesday 26th August 2014, Sydney What is driving housing activity?

More information

Parramatta Reversing the prime-grade office slide

Parramatta Reversing the prime-grade office slide September 2013 Parramatta Reversing the prime-grade office slide Key Points With the largest employment catchment area in metropolitan Sydney, Parramatta has evolved into Sydney s third largest office

More information

NSW BUSINESS CONDITIONS SEPTEMBER Quarterly snapshot of NSW economy informed by the businesses of NSW

NSW BUSINESS CONDITIONS SEPTEMBER Quarterly snapshot of NSW economy informed by the businesses of NSW NSW BUSINESS CONDITIONS SEPTEMBER 218 Quarterly snapshot of NSW economy informed by the businesses of NSW NSW THIS QUARTER The NSW Business Chamber s Business Conditions Survey points to tougher trading

More information

Briefing Melbourne CBD Office April 2018

Briefing Melbourne CBD Office April 2018 Savills Research Victoria Briefing Melbourne CBD Office Highlights Victorian jobs ads have been positive for past five years and currently are at their highest level since May 2009; This growth in professional

More information

Briefing West Perth Office April 2018

Briefing West Perth Office April 2018 Savills Research Briefing West Perth Office Highlights Recentralisation to the CBD remains a feature in West Perth, with a number of tenants relocating from West Perth to the CBD, contributing to the rise

More information

Tasmania Property Report April 2015

Tasmania Property Report April 2015 Tasmania Property Report National Overview This quarter, we asked Herron Todd White property experts to identify the hidden gems of Australia s residential property market locations that combine affordability

More information

Briefing Adelaide Fringe Office February 2018

Briefing Adelaide Fringe Office February 2018 Savills Research South Australia Briefing Adelaide Fringe Office Highlights A slight rise in the vacancy rate was led by the return of refurbished floor space, the largest level since 2013, reflecting

More information

COMMERCIAL UPDATE 21 September 2006

COMMERCIAL UPDATE 21 September 2006 COMMERCIAL UPDATE 21 September 2006 1 STEVE MANN CEO, Commercial & Industrial Division Stockland Commercial Division update 2 PRESENTATION AGENDA C&I Business Model C&I Mission SEE The Future of Australian

More information

INVESTOR PRESENTATION. 3 Oct 2018

INVESTOR PRESENTATION. 3 Oct 2018 INVESTOR PRESENTATION 3 Oct 2018 DISCLAIMER This presentation should be read in conjunction with the unaudited second quarter financial statements of Far East Orchard Limited ( FEOrchard ) for the period

More information

QLD Economic Outlook. Thursday, 21 December Key Points: State Report QLD. Summary

QLD Economic Outlook. Thursday, 21 December Key Points: State Report QLD. Summary Thursday, 21 December 217 QLD Economic Outlook Summary Queensland s economy has been subdued over the past couple of years, as declining commodity prices and a sharp slowdown in mining investment weighed

More information

Briefing Melbourne CBD Office August 2018

Briefing Melbourne CBD Office August 2018 Savills Research Victoria Briefing Melbourne CBD Office Highlights Tenant demand has been steady and on the back of strong economic indicators, Grade A stock is now recording its lowest vacancy rate in

More information

Office Market Report

Office Market Report 1 Office Market Report Australian CBD Second Half 2016 HIGHLIGHTS Over the ten years to January 2017, Australia s total stocks of office space increased by 22.6%, to over 25 million square metres of space.

More information

Development Activity

Development Activity The North Sydney s vacancy rate has fallen from 7.3% in January 217 to 6.4% in July 217 on the back of positive tenant demand stemming from both expansion and inbound migration. Stock withdrawals will

More information

Australia Tutor Resources for the AMEP A new life Beginner

Australia Tutor Resources for the AMEP A new life Beginner Aus straliaa A new life Beginner This work is copyright. You may download, display, print and reproduce this material in unaltered form only (retaining this notice) for your personal, non commercial use

More information