Commercial property values in Australia near two-year high
Australia’s commercial property professionals have maintained a bullish outlook on capital values for the coming 12 months. However, the value of retail assets is likely to decline further, according to new research from the Royal Institution of Chartered Surveyors (RICS).
The RICS Q4 2019 Australia Commercial Property Monitor – which surveys experts working in the property industry, including valuers, to gain insights into market confidence – delivered the strongest outlook for overall commercial capital values since the first quarter of 2018.
Most of those surveyed cited the investor market as the principal source of confidence, noting that the majority of demand was coming from domestic investors rather than offshore.
Investor sentiment edged higher to sit at +8, while owner-occupier sentiment remained flat, near zero.