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NAB Says Office Most Attractive Commercial Property Sector in Australia
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December 18, 2016
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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.
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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.
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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.
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By Staff Writer, APMR News
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Article Published on : 2016 December 16, 14:45 pm GMT+800
Article Last Updated : 2016 December 19, 11:10 am GMT+800
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