Retail challenges.
Households still appear to prefer paying down debt, rather than spending — with Australia’s saving level hovering around a record 10.5% of its disposable income.
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Office leasing activity picked up in most capital cities around Australia, over the past year. In some instances, quite significantly.
And with the supply side basically “on hold”, you should soon start to see this translate into some solid rental increases.
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Growth will continue.
Sure, the Australian economy may have grown by only 0.2% in the September quarter. And retail sales might have actually fallen by 1.1% for October.
However, the overwhelming consensus is that this is merely an aberration.
And the underlying growth projections remain very favourable — with the full effect of the mining boom having resumed, due to be felt by mid-2011.
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Savills International has just released a report on the current level of Office supply within the Melbourne CBD.
Melbourne CBD Office Vacancies
The amount of Secondary Office space has also fallen from 108 floors to 89, over the same period.
And underpinning all of this is the level of enquiry, which has jumped by 300% over the last six months.
