Australian commercial property market steady | 11 May 2012
The commercial property sector in Oceania has shown signs of remaining steady as a new study reports little change in activity compared to the final three months of last year.
The Royal Institution of Chartered Surveyors (RICS) Oceania Commercial Property Survey notes that Australia’s market is ‘stable’ as occupier demand and the amount of space available remains level, reports propertyshowrooms.com.
However, investment inquiries managed to climb during the first quarter of 2012, with the report stating: “Capital value expectations remain flat, but could begin to pick up in the coming three months if the surge in investor demand is anything to go by.”
New Zealand, on the other hand, has seen a rise in demand from occupiers for the first time in nearly a year, marking a return to form for the sector.
Kaye Herald, RICS Asia Pacific Managing Director, spoke to rics.org regarding the level market: “The Oceania region is still an attractive market place for international investors, which is being shown in these recent survey results. Australia and New Zealand continue to show a healthy market place well ahead of the northern hemisphere, which is only just starting to show signs of repair after the global down turn.”
RICS’s figures follow a survey from National Australia Bank which suggests that office property in central business districts, as well as the hotel industry, are ‘robust markets’ for investors.
Written by Ashley Curtis on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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