Figures

Brisbane Retail Figures Q4 2024

January 20, 2025 10 Minute Read

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  • Queensland recorded $7,676m retail sales in November 2024, representing a 4% increase y-o-y.
  • New floorspace added to the market in Q4 2024 totalled c.15,400 sqm, down from the c.42,000 sqm completed last quarter (excludes non-metro). The CY2024 supply totalled c.92,000 sqm, which is double the completions in 2023.
  • Brisbane CBD retail vacancy increased in H1 2024 by 50bp to 19.2% vacancy.
  • Net face rents have continued to increase across most retail categories in Q4 2024, driven largely by limited future supply.
  • A total of $212 million in retail transactions (for sales > $5m) was recorded in Q4 2024, representing a decrease of c.50% compared to the previous quarter.  This brings the CY2024 total to approximately AUD 1,024 million (50% below the long-year average).
  • Regional centre yields tightened by -5bp q-o-q to 5.98%. While sub-regional assets saw an expansion of 12.5bp q-o-q to 6.88%.