"Australia Real Estate Report 2016" now available at Fast Market Research.
Australia's commercial real estate market is buoyed by strong fundamentals, with a mature economy, highly skilled workforce, transparent regulation and a welcoming business environment. However, the economy has been posting slower growth; and a slowdown in demand in China, a major destination for Australia's mineral exports, could have an indirect effect on Australia's economy. Overall demand for commercial real estate is expected to remain low because of this, and we are forecasting no increase in rental rates in 2015 and 2016.
The economic outlook is set to remain blighted by the impact of the Chinese slowdown and government austerity, as well as a lack of consumer confidence. We see real GDP growth coming in at 2.4% in 2014 and 2.3% in 2015, well below the 3.8% achieved in 2012. Although there will be a slight pick up towards the end of our forecast period, we still see growth being only 2.9% in 2018. All this will limit job growth and also cause businesses to delay potential expansion plans, affecting the fortunes of the commercial real estate sector.
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On the upside, there is significant interest in Australian real estate, both commercial and residential, from international investors, particularly those from elsewhere in Asia Pacific, notably China and Singapore. This should ensure that transactional activity remains high.
The office sector is being affected by low demand across the board, although the strongest demand seems to remain for grade A space, which should buoy overall rental rates. There is a significant backlog of new supply set to come online in Sydney, and also in Brisbane. Apart from this, we see the lack of demand acting to reduce the number of new construction projects over the long term.
Australia Real Estate Report
features BMI Research's market assessment and independent forecasts of major construction projects in the residential and commercial markets, plus rental prices and yields in major cities. The report critically analyses the prospects for real estate within the broader economic and financial context - both domestic and global - via our econometrically-modelled and clearly explained banking and economic forecasts and follows this through to evaluate the implications for REITs.
Australia Real Estate Report
provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the real estate industry in Australia.
Benchmark BMI's independent real estate industry forecasts for Australia
to test other views - a key input for successful budgeting and strategic business planning in the Australian real estate market.
Target business opportunities and risks in Australia
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|Date:||Oct 26, 2015|
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