Availability of Australian retail properties increasing
A new report has shown that the availability of retail properties in Australia has been experiencing an increase in recent months.
The RICS Oceania Commercial Property Survey covers the trends in a number of real estate sectors across the Australasian market - and the Q3 results have shown some interesting developments for business owners looking to upgrade their location.
Graphs included in the research indicate that the local market has experienced an increase in the availability of retail space - entering into positive territory after an extended period of negative records from late 2009.
If the trend continues on its current course, over the next year there will be appriximately a 20 per cent vacancy rate for commercial property by mid-2012.
Coupled with recent reports from the Australian Bureau of Statistics that show consumer spending in the retail sector has increased for the second consecutive month, this could be welcome news for many firms that have otherwise been doing it tough over the last year.
Business owners and managers who are looking to improve their public accessibility may soon have the opportunity to pick from a range of venues at lower rental prices - or even have the option of buying them outright.