NAB Says Office Most Attractive Commercial Property Sector in Australia
December 18, 2016
National Australia Bank(NAB) said office property is the most attractive sector in the commercial property market and commercial property market sentiment in Australia improved in the third quarter despite a slight moderation in its business survey conditions during the quarter. Capital growth prospects were revised up in all commercial property markets, except retail (due largely to VIC) in the next 1-2 years, the bank said in its Q3 commercial property market survey result analysis.
In other markets, expectations are being led by the eastern seaboard states, with office property to provide the highest capital returns (particularly in VIC), NAB said.
Office property is expected to deliver the best income returns, driven by strong growth in VIC and NSW (osetting big falls in WA and SA/NT). In Retail markets, modest or at growth is predicted in most states (bar SA/NT), with Industrial rents set to fall in SA/NT and WA, NAB said in the commercial property market quarterly survey report.
By Staff Writer, APMR News
Article Published on : 2016 December 16, 14:45 pm GMT+800
Article Last Updated : 2016 December 19, 11:10 am GMT+800