NSW MARKET OVERVIEW
NEW SOUTH WALES
NSW Market Overview with Nick Zenonos
How does the property market in (NSW) compare to other states at the moment and what are some key trends that are occurring? Industrial property in New South Wales, and Sydney in particular, is the tightest market across Australia, with vacancy sitting at 0.4%. With historically low vacancy & unforeseen levels of occupier demand, rental growth and increased capital values have been the greatest trends of the past 12 months. A current theme is the introduction of multi-level industrial estates in Australia (specifically South Sydney). What sectors are most in demand? Without a doubt Industrial & Logistics has been the most in-demand property sector over the past 24 months (across both occupier demand and investment).
What do you see as the biggest challenges that face buyers and sellers in todays market? The biggest challenge that buyers face at the moment is the scarcity of property available on the market, paired with fierce competition and increasing land values. For sellers, the uncertainty surrounding the economic environment (namely interest rate rises and inflation) has reduced the amount of both domestic and offshore capital investment. Who have been key investors over the last 18 months and have you seen a
NICK ZENONOS Director - CBRE South Sydney
shift from previous years? A. High net worth individuals capitalizing on rental growth B. Existing and new institutional
money for larger scale parcels for multi-level industrial
C. Owner occupiers who have
capitalized on the historically low cost of capital
20 –August / September 2022
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