CBRE: Retail rents in Melbourne up 1.5% in 2016
In its Asia Pacific Market Outlook 2016, CBRE highlighted how trends for retail property rents vary quite markedly across the region. CBRE grouped markets in four categories: Growth Slowing; Steady Growth; Peaking and; Continued Decline. Melbourne is included in the second of these. CBRE is looking for retail rents in Melbourne to rise by 1.5% in 2016, having risen by about 1% in 2016. CBRE estimates that the retail development pipeline for Melbourne over 2016, 2017 and 2018 includes about 3mn square feet of space.
Source : CBRE/ February 2016/Melbourne/RET