Australian Retail Figures Q3 2022

‒Retail sales grew 19.2% y-o-y and 0.6% m-o-m in August reaching another record level. This growth represents the eight consecutive monthly rise in retail turnover. 

‒Consumer confidence increased by 3.9% m-o-m to 84.4 in September 2022, reversing from a 3% fall in August and rising for the first time since November 2021.

‒Net face rents were stable in most sectors with neighbourhood centres and LFR recording the largest q-o-q increase (1.6% and 1.5% respectively).

‒Yields sharpened across all assets classes as capital continues to look to the retail sector for solid returns. This is expected to slow in the second half of 2022 in line with interest rate increases.

‒Transaction volumes in Q3 2022 totalled $2.23b across 31 transactions, up 7.3% on Q3 2021.