Industrial GVA was negative at Q3 2019 (-1.9% y-o-y), however saw recovery from the previous quarter.
Average super prime industrial rents were flat in all markets. Perth recorded the first quarter of flat growth in Q4 suggesting it has reached the bottom of the market.
Super prime yields remained flat in all markets. Super prime yields compressed by 30bps over 2019.
Land values grew by 3.9% y-o-y with Australian 1.6ha lots averaging $506/sqm. Melbourne has seen the greatest growth in land values at 21.2% over the past year.
Transaction volumes in Q4 totalled $2.3b, up 19.5% on Q3 2019 bring total 2020 sales to $7.1b.