Figures Australia Industrial and Logistics 2Q24

Key Points

• Australia’s e-commerce penetration rate continues to increase equates to 13.4% (or AUD 57 billion over the past 12 months).
• Gross take-up in 2Q24 was the lowest quarterly take-up recorded since 2015, totalling c.426,200 sqm.
• Around 16% of the total new floorspace to be delivered this year was completed in 2Q24, with new supply for the CY2024 expected to total close to 3 million sqm.
• Rental growth this quarter has slowed across most major markets across Australia. Super prime net face rents (supply-weighted average) increased marginally by 1.2% q-o-q, whilst there was negative effective rent growth as incentives rise.
• The national average midpoint yield for super prime grade asset now stands at 5.9%.
• Investment sales for income producing assets (≥ AUD 10 million) in 2Q24 totalled.