Australian Retail Market Overview Q2 2023
National market statistics
- Andrew Ballantyne
- Andrew Quillfeldt
Shopping centre fundamentals remain moderately strong on the back of resilient consumer demand over the past two years. However, there are early indications of a slow-down in discretionary spending as a result of heightened cost-of-living pressures. We expect retail turnover to continue to materially decline over the second half of 2023 given a large tranche of fixed rate mortgages expire within this time.