Industrial GVA turned negative in Q4 2018 (-1.0% y-o-y) after seven quarters of positive growth.
Average industrial rent growth was stable with super prime net face rents increasing 2.0% y-o-y with Adelaide (8.0%) and Melbourne (7.4%) recording the strongest growth.
Super prime yields fell in Melbourne and Perth in Q1. Sydney yields remain the sharpest in the country at 4.85%, followed by Melbourne at 5.00%.
Land values continued to grow with average prices per square metre for 1.6ha parcels up 5.3% y-o-y driven by strong growth in Sydney, Brisbane and Melbourne.
Transaction volumes in Q1 2019 were 51% lower than Q1 2018 and totalled $726m.