Australia wide, the level of Retail construction was up by some 17% for the 12-month period to June 2007.
In the main, this involved extensions to existing suburban Shopping Centres; plus some new construction in many of the growth corridors.
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Every six months, you’ll find Rider Levett Bucknall publish their “Oceania Construction Cost Commentary”. In this posting, you’ll find an extract from their July 2007 publication — which covers both the Australian and New Zealand markets.
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As the government spending and tax cuts add to consumer demand, you’ll see the Australian economy continue to grow strongly.
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Depending upon what your Lease specifies upon termination, the cost to “make good” the property can vary dramatically. Furthermore, the tenancy fit-out (and original condition) of the property can also impact on that cost.
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Every now and then, I’ll have a client call to check just how the market is traveling relative to the 1980s. And there is no question that it’s strong — but you do need to place it into context.
In the last eBulletin, I tried to give you an overview of where things stood. Recently, the ANZ Bank’s research team put out a report — and an extract from that reads …
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You would have been reading the reports lately about improved consumer sentiment; and retail sales certainly do seem to be on the improve.
But as you look around Australia; there has also been an incredible amount of new retail space come onto the market.
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As you have probably gathered, the demand for Commercial Property last year was strong.
In a recent article in the Financial Review, a report by CB Richard Ellis calculated that a record of $14 billion worth of Office, Retail, Industrial and Hotel property changed hands in Australia in 2006.
The accompanying table will give you a comparative summary of sales activity over the past 10 years.
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By now you are probably winding down, and getting ready for a well-earned Christmas break.
As you’re aware, the purpose of the postings on this site is to give you quick updates on events affecting you as a Commercial property investor.
However, our regular eBulletins are still designed to give you a more in-depth analysis of Market trends — but on a quarterly basis.
The current eBulletin takes a look at where you are in the Property Cycle; and what it is you need to consider.
You can now go to our main website for the complete picture.
“Will there be another Crash?”:https://www.gal.com.au/FREE-eBulletins/Current-eBulletins/Thinking-Ahead-3.html
“If there is to be a Crash … When?”:https://www.gal.com.au/FREE-eBulletins/Current-eBulletins/Thinking-Ahead-3.html#when
“How widespread will the Crash be?”:https://www.gal.com.au/FREE-eBulletins/Current-eBulletins/Thinking-Ahead-3.html#spread
You have seen strong growth and investor activity over the past 12 months; but neither of these have been very consistent — whether you look across the nation, or within each of the Commercial sectors.
Let’s take a quick look at each sector; and also consider the likely impact that further interest rate rises may have on your Investment Strategy.
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