September 2016 – Perth Industrial Sub 5,000sqm leasing market

13 September, 2016 / Vanessa Rader and Russ Parham

The Perth Industrial market has not been immune to the broader challenges which the Western Australian economy is currently facing.

With GSP rates for the state sub 2% and the outlook for this to remain stable, there is no clear catalyst to suggest improvement in the commercial property markets. The industrial market has been under extreme pressure for the past few years given the rapid and sizeable decline in the mining and manufacturing sectors and with little expectation of growth in these sectors in the short term the market will continue to be hampered by this limited demand. Encouragingly however the outlook for some market sectors such as health care, hospitality and tourism, while will assist in improving the broader unemployment rate for the state albeit not positively impact the industrial market.

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