Retail sales grew by 2.5% y-o-y (3mma) in the year to August 2019.
National retail rents remained broadly stable in Q3 2019. Whilst prime sites continue to experience strong demand, letting up periods in secondary locations have increased in comparison to 12 months previously.
In October, consumer confidence dropped to 92.8 from 98.2 in September.
Investment activity in Q3 2019 totalled $1.25b, down 50% on the $2.6b recorded in the previous corresponding period. With a number of significant transactions in the pipeline, investment volumes are expected to rise significantly in Q4 2019.
In Q3 2019, yields for CBD and shopping centre assets remained stable.