WA MARKET OVERVIEW
WESTERN AUSTRALIA
WA Market Overview with Wayne Chorley What are the key market trends occurring throughout 2022 in your region? The leasing market is very strong. Vacancy
What have been the fundamental drivers of demand amongst buyers? The Perth industrial market is being driven by: • high levels of consumer and business confidence, • a strong local economy, • the resources sector • E- commerce • Food production and logistics • massive public infrastructure spend of almost $12B • booming residential construction.
currently hovering around 1%. So it is almost a “full house”. This is a dramatic change from 2 years ago when vacancy was sitting at 20%. This uplift has led to significant increases in rentals over the past 12- 18 months. The turnaround in the leasing has been remarkable with rents increasing by as much as 50%. The Pre – Lease market is very active with Office Works recently committing to 20,000 design and construct at Perth Airport. Speculative development, which is a rarity in Perth is now being undertaken to satisfy the shortage of large high truss clear span warehousing.
WAYNE CHORLEY Director - Sales and Leasing Realmark Commercial
100 – August / September 2022
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