National Australia Bank released the Commercial Property Survey last February 11, 2015. It shows the overall, sentiment now strongest in retail sector and weakest for office property.
Over the past years, construction has been strong with major office precincts especially in Perth. Australian office markets have been attracting international investment for the past years but nowadays, office property is the weakest. Sentiment in Commercial Property markets softened with dipping into negative territory.
Despite the sentiment is still at record lows in some states, Australian property market has remained strong through tough economic conditions.
According to NAB Group Chief Economics Alan Oster, “There was an increase in the number of developers looking residential and retail opportunities, with more also looking to acquire new properties for development.”
Commercial Property Survey Market Overview (Dec 2014).pdf (138.46 kb)