Perth Retail Figures Q1 2025

Key points: 

• Due to a strong population growth rate and jobs market, retail sales growth in WA is buoyant, increasing by 6.0% y-o-y in the three months ending February 2025.
• No retail development supply was recorded during Q1 25. Close to 30,000 sqm of supply is expected in 2025, mainly in the large format and neighbourhood centre categories.
• Super prime net face rents in the Perth CBD remained stable q-o-q and increased 2.7% y-o-y. 
• Regional shopping centre net face rents increased 1.0% q-o-q and 4.0% y-o-y. Large format retail centres recorded the strongest face rent growth over the past year increasing by 0.7% q-o-q and 8.3% y-o-y.
• Regional shopping centre yields decreased by 5bp q-o-q to 6.25% and large format retail yields decreased by 6bp q-o-q to 6.44%. Yields were stable across all other retail asset types during Q1 2025.
• Having seen a record high $2 billion of retail investment transactions in 2024, Q1 2025 retail transactions totalled $208 million (for transactions ≥ $5 million).