Retail sales grew by 2.1% y o y (3mma) in the year to February 2020.

National retail rents remained broadly stable in Q1 2020. Whilst prime sites continue to experience strong demand, letting up periods in secondary locations have increased in comparison to the 12 months prior.

In March, consumer confidence dropped to 91.9 from 95.5 in February.

Investment activity in Q1 2020 totalled $96m, down $775m from Q1 2019. Investment volumes may remain steady in 2020 as uncertainty looms over the retail industry.

In Q1 2020, yields for super prime CBD increased by 13bps while regional centres increased by 17bps y o y.