• Australia’s e-commerce penetration rate equates to 14.6% (or AUD 56 billion over the past 12 months).

 

  • Gross take-up over the quarter has increased (877,347 sqm), despite record low vacancy, mainly owing to high leasing activity in the Brisbane market.

 

  • E-commerce related occupiers have accounted for 15% of floorspace leased in 2Q22, with the concentration of activity from the transport, postal and warehousing occupiers (50%).

 

  • Although the 2022F new supply total is 50% above the 10-year annual average (1.5 million sqm), this is not enough to bring the market in a state of equilibrium.

 

  • Rental growth over the past 12 months has reached a record high of 13.1% for super prime grade assets.

 

  • Yields remained unchanged over the quarter due to the lack of transactional evidence over the last month of the quarter. National midpoint yields for super prime grade assets remain at 4.49%.

 

  • Investment sales (≥ AUD 10 million) in 2Q22 totalled AUD 1.7 billion.