Figures

Figures Australia Industrial and Logistics 4Q24

January 16, 2025 10 Minute Read

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  • Australia’s vacancy rate has increased and now averages 2.5% (as at 2.H4) – remaining one of the lowest globally.
  • Gross take-up in CY2024 fell short of the 10-year long-run average, with most markets recording lower activity compared to the previous year as demand has been normalising.
  • The 2025 supply pipeline is expected to reach a similar level to the total delivered in CY2024. Around 40% of the forecast new supply in 2025 is currently pre-committed.
  • Sydney was the only market to record rental growth over the quarter.
  • Rental growth for the CY2024 remained elevated with super prime, prime and secondary net face rents (supply-weighted average) increasing by 8%, 6%, and 7%, respectively (y-o-y). Over the same period incentives have risen by 6% (super prime).
  • The national average midpoint yield for super prime grade asset stands at 5.9%.
  • Investment sales for income producing assets (≥ AUD 10 million) for the CY2024 totaled close to AUD 11 billion, significantly above the long-run average of AUD 6.3 billion.