The top performer for the Australian leasing market is New South Wales. In a report from propertywire.com, the state for the first half of the current year had leased out twice as much commercial area year on year.
For the whole Australian commercial leading market, a 13 percent increase in the number of deals done for 2015 was observed from the figures of 2014. In a report from Colliers International, the amount of space jumped by 22 percent from 2014's 198,360 square meters to 241,551 this year. As the market leader, New South Wales was able to lease out a total of 112, 937 square meters compared to 2014's figure of 64,629.
According to Colliers International National Director of Office Leasing Cameron Williams, there was increased traction throughout the country at the larger end of the market. He said, "This is in contrast to 2014 enquiry data, which is a reflection of what we are seeing on the ground. Larger firms are driving demand for office accommodation in 2015 compared to 2014, when we saw smaller space in strong demand."
One of the major transactions of the year for this market was the CSG's lease at Canberra Airport. The said lease covers 2000 square meters, according to a report from bordermail.com.au.
From a microeconomic point of view though, the red hot housing market has helped in keeping investor sentiment positive in the major metropolitan areas such as Sydney and Melbourne. Unfortunately, according to a report from smh.com.au, the mining states remained behind, as confirmed by ANZ/Property Council property sentiment survey.
This survey was undertaken between April until August of the current year and had 1800 respondents throughout Australia. The coverage of questions would be on commercial property to housing matters to expectations on capital growth. Overall, the survey results showed that most states expect a flat to negative outcome on the national average.
