Figures Perth Industrial and Logistics 3Q23

October 9, 2023 6 Minute Read

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Key Points

          • Australia’s e-commerce penetration rate has stabilized and equates to 12.8% (or AUD 54 billion over the past 12 months).
          • Gross take-up in 3Q23 has increased compared to the last two quarters, totaling c. 825,000 sqm, which is close to the 5-year quarterly average rate (c.900,000 sqm) – owing to greater pre-lease transactions.
          • Around one-third of the total new floorspace to be delivered in 2023 was completed in 3Q23, with total new supply for the CY2023 expected to reach a record high of 2.8 million sqm.
          • Although rental growth was recorded over the quarter, with the supply-weighted average super prime grade assets increasing by 2.9% q-o-q, the rate of growth is beginning to slow significantly for some markets.
          • The national average midpoint yield for super prime grade asset now stands at 5.49%.
          • Investment sales for income producing assets (≥ AUD 10 million) in 3Q23 totaled AUD 1.2 billion.