Figures

Australia Retail Figures Q4 2024

January 20, 2025 10 Minute Read

Retail trade jumped in November, recording an increase of 0.8% m-o-m and 3.0% y-o-y. This increase in spending was off the back of discounting and increased spending during Black Friday sales. All retail categories saw m-o-m increases with department stores (1.8% m-o-m) and clothing and footwear retailing (1.6% m-o-m) experiencing the largest increases.
Consumer sentiment dipped to 92.8 in December 2024 from 94.6 in November, however has improved materially over the course of 2024. Consumers continue to report solid improvements in current conditions however remain pessimistic overall, with concerns around the economic outlook into 2025.
Net face rents grew across all sectors in Q4 except super prime CBD. Prime large format assets recorded the highest growth of 1.8% q-o-q.
Yields saw very little movement over Q4 with regional centres expanding by 3bp q-o-q while sub-regional and large format centres saw compression of 2bp and 5bp respectively. Yields are now expected to have reached their peak.
In Q4 2024, there were 22 retail transactions totalling c.$3.172 billion. Retail transaction volumes in Q3 were 68% higher than Q4 2023.