Figures
Adelaide Retail Figures Q4 2024
January 20, 2025 10 Minute Read
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- Retail sales growth in the three months ending November 2024 accelerated to 2.4% y-o-y growth, up from the average 1.9% y-o-y growth in the prior three months.
- Approximately 12,000 sqm of new retail development supply was recorded in Q4 24, predominantly within the large format retail centre category.
- Approximately 34,000 sqm of retail supply delivered in 2024, just above the 10-year average of c.30,000 sqm.
- Net face rents were stable q-o-q across all retail categories. Y-o-Y large format retail net face rents have increased by 4.1% and remained stable across all other retail categories.
- Retail investment transaction volumes for 2024 reached c.$1.1 billion, well above the 10-year average of c.$350 million (for transactions ≥ $5 million).
- Q4 saw regional centre yields soften by 3 bp q-o-q to 7.23% and sub-regional centre yields soften by 8 bp to 6.54%. Given the strong demand in the large format retail category, yields compressed by 6 bp q-o-q to an average of 6.13%.