Commercial Property Market Trends

Research shows 90% of smartphone users look for local information on their smartphones and 86% take action such as contacting the business or making a purchase.

A description for “creative industries” has been done to death but it really means a move away from the generic, CBD-style office with false ceilings and grey carpet to warehouse-style buildings with exposed building “bones”. …

Commercial property will help Australia’s economy shift away from mining investment, a new survey reveals. The Property Council-ANZ Property Industry Confidence Index shows commercial market sentiment lifted in the March quarter survey.

While 2013 turned into a better year than many expected, now it’s time to ask where the market is headed in 2014. Consumer sentiment recovered from its low point in mid-2013 but retailers are still battling pressures from online sales and high rents.

Investors are snapping up CBD office blocks to turn them into apartments, in a ripple effect from the nation’s strong housing market. This emerged as a key trend in 2013 and industry experts are expecting it to continue in the year ahead.

The past 12 months in the Sydney CBD office market has again been testing, with an increase in direct vacancy of just under 9%. Furthermore, the additional sub-lease component pushed overall vacancy up to approximately 9.5%, and we have again seen an increase in incentives.

There’s a shift on in Melbourne, with major business moving out of their suburban homes and into the CBD. A new report shows 16 companies moved from the suburbs to the CBD and its fringe in the past 12 months – up from three in the previous 12 months.

A NEW barometer is tipping improving demand in the next quarter for offices in Sydney’s city centre.

A COLLINS St shop sold for a record $14.21 million as buyers snapped up $239.2 million of Melbourne commercial property from just one agency in the past 10 weeks.