Australian Industrial Market Overview Q1 2024

National market statistics

May 08, 2024
  • Andrew Ballantyne
  • Annabel McFarlane

Macroeconomic headwinds increased in Q1 2024 as Australia's elevated interest rates continued to grip, impacting retail trade volumes. This lower consumer demand, coupled with the ongoing shortage of modern, efficient warehouse space nationally resulted in slowing occupier gross take-up over the first three months of the year.

Nevertheless, the longer-term outlook for Australia's industrial sector remains positive, driven by strong population growth forecasts. Developers continue to acquire new land holdings, which underpinned a fourth consecutive increase in quarterly industrial transaction volumes nationally.

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