Some notable variations between property sectors emerged since the middle of 2017. Causal factors include location and sector specific supply and demand trends impacting on vacancy and lessor/lessee sentiment, potentially some impact from the election manifesting through more cautious attitudes, more restricted access to local debt, and strong liquidity from offshore investors.
- In the office market, vacancy increased as resurgent supply exceeded demand.
- Although retail occupier demand is strong, demand per se has not necessarily strengthened.
- For industrial, positive rental trends occurred on the back of strong demand.