logo redirect pin user minus plus fax mobile-phone office-phone data envelope globe outlook retail close line-arrow-down solid-triangle-down facebook globe2 google hamburger line-arrow-left solid-triangle-left linkedin wechat play-btn line-arrow-right arrow-right solid-triangle-right search twitter line-arrow-up solid-triangle-up calendar globe-americas globe-apac globe-emea external-link music picture paper pictures play gallery download rss-feed vcard account-loading
Our website uses cookies and other technologies so that we can remember you and understand how you and other visitors use our website. By continuing to browse this Site, you are agreeing to our use of cookies. Click here for more information on our Cookie Policy, including how you may control the information we collect about you through cookies.
Read More
Accept
Australia
  • Global
  • United States
  • Angola
  • Argentina
  • Australia
  • Austria
  • Bahrain
  • Baltics
  • Belgium
  • Brazil
  • Cambodia
  • Canada
  • Chile
  • Colombia
  • Czech Republic
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Greece
  • Hong Kong
  • Hungary
  • India
  • Indonesia
  • Ireland
  • Israel
  • Italy
  • Japan
  • Kazakhstan
  • Kenya
  • Korea
  • Latin America
  • Luxembourg
  • Mainland China
  • Malaysia
  • Mexico
  • Morocco
  • Netherlands
  • New Zealand
  • Nigeria
  • Norway
  • Oman
  • Pakistan
  • Panama
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Romania
  • Russia
  • Saudi Arabia
  • Singapore
  • Slovakia
  • South Eastern Europe
  • Spain
  • Sweden
  • Switzerland
  • Taiwan
  • Thailand
  • Turkey
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Venezuela
  • Vietnam
Log In
  • Global Intranet
  • myCBRE
  • Services
    • Business Lines
      • Advisory & Transaction Services
      • Capital Markets
      • Global Workplace Solutions
      • Investment Management
      • Property Management
      • Valuation & Advisory Services
    • Industry & Specialties
      • Agribusiness
      • Build-to-Rent
      • Building, Depreciation & Cost Consultancy
      • Government Real Estate Advisory & Transactions
      • Hotels
      • Industrial & Logistics
      • Office
      • Residential
      • Retail
      • Retirement & Healthcare
      • Sustainability
    • Services for Investors
      • Debt and Structured Finance
      • Host
      • Institutional Investments
      • International Investments
      • Investment Accounting & Reporting Solutions
      • Investment Advisory
      • Structured Transactions & Advisory
      • Leasing & Advisory
      • Metropolitan Investments
      • Property Management
      • Property Sales
      • Recovery & Restructuring
      • Valuation & Advisory
    • Services for Occupiers
      • Enterprise Facilities Management
      • Host
      • Leasing & Advisory
      • Occupier Consulting
      • Portfolio Services
      • Project Management
      • Sale and Leaseback
      • Structured Transactions & Advisory
      • Transaction Management
      • Valuation & Advisory
      • Workplace
  • Properties
    • Agribusiness
      Hotels
      Industrial & Logistics
      Institutional Investments
      Metropolitan Investments
      Office
      Residential
      Retail
  • Research & Reports
    • About Research
      Australia Research Archives
      Asia Pacific Research
      Global Research Gateway
  • People & Offices
    • Executive Committee
      Local Office Leadership
  • About CBRE
    • Careers
      Case Studies
      Corporate Information
      Corporate Responsibility
      Investor Relations
      Client Tools
      Media Centre
      The Place Makers
      CBRE Who are we?

Previous

Rockhampton hotel sold on behalf of receivers

Next

High exposure office & warehouse available in Herdsman Business Precinct
  • Home
  • About CBRE
  • Media Centre
  • Sales turnover growth to stimulate NSW retail market

Sales turnover growth to stimulate NSW retail market

23 June 2013
  • Email
  • Share
  • Tweet
  • Share
  • Share

​June 23, 2013-New South Wales’ retail market is positioned to benefit from an upswing in confidence levels, modest improvement in dwelling approvals and increased retail turnover growth, new research shows.

According to CBRE’s Australia Retail Marketview Q1, 2013 report, a more stable economic outlook is helping to boost consumer spending levels, driving modest growth in the NSW retail market as a result.

Despite subdued rental growth in the first three months of the year nationally, sales and investment activity was heightened during the period – particularly in the eastern states.

During Q1, retail sector investment activity lifted 39% in comparison to the same period last year – reaching $1.4 billion over the quarter.

In NSW, retail investments for the year to December 2012 totalled $1.432 billion – the highest nationally. That momentum has stalled in 2013 however, with investments amounting to $151 million during the first quarter of 2013.

CBRE Senior Research Manager Tammy Smith said while investment activity in NSW has been relatively restrained during the first few months of this year, rising consumer sentiment levels were driving an improvement in retail sales statewide.

“Sentiment levels nationally jumped 14 points in the year to April, which has provided a welcome boost to turnover figures – particularly in the eastern markets,” Ms Smith said.

In NSW, retail turnover climbed 3.25% in the year to March 2013 – significantly higher than the 0.23% increase recorded during the same period the year before.

By comparison, WA recorded the highest sales turnover growth with 8.58%, followed by QLD with 5.0%.

“As the economy becomes more stable and the outlook more optimistic, consumers are returning to more favourable spending patterns, which is helping to attract investors, spur new developments and support modest rental growth,” Ms Smith said.

“Improved consumer sentiment levels, supported by a lower interest rate environment, is having a positive impact on the retail market, with relatively high yields and the defensive characteristics of the retail sector underpinning a rise in investment and retail supply,” Ms Smith said.

In quarter one, dwelling approvals increased 13% in NSW, while nationally during the same period, approvals jumped 11%.

CBRE Director of Retail Investments Steve Lerche said the low interest rate environment and more favourable conditions had contributed to a recent recovery in NSW approvals.

“The current climate has contributed to change in sentiment from investors and developers, with them now seeing more value in NSW retail assets,” Mr Lerche said. 

In particular, investors are now expanding their portfolios to include sub-regional and neigbourhood centres. Neighbourhood developments currently account for 14% of all retail construction nationally, a trend which is set to continue into next year, increasing to 17% of additional supply.

In NSW, 275,7000sqm of retail space is expected to be completed by December 2013 – rising to 594,800sqm in 2014, before dropping to 210,400sqm the year after.

For Australian/international news or global stories, follow us on Twitter.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue).  The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.au.

 

 

Media Contacts

Kathryn House Headshot
Kathryn House
Communications Director
Pacific
+61 2 9333 3585
  • Corporate Information
  • Corporate Responsibility
  • Media Centre
  • About CBRE
  • Careers
  • Case Studies
  • People & Offices
  • Executive Committee
  • Investor Relations
  • Contact Us
  • Australia Privacy Policy
  • Privacy Policy
  • Australian Job Applicant Privacy Policy
  • Sitemap
  • Terms of Use
  • Instagram
  • Facebook
  • Twitter
  • LinkedIn
  • Google