Future of Property in Australia

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Residential Property

The market saw fluctuations in housing prices and patterns of suburban migration as people sought more space and lifestyle amenities. Developers adapted to changing demands, focusing on sustainable features and modern designs. Despite uncertainties, certain segments, such as regional properties and housing with home office spaces, demonstrated resilience. Investors and homebuyers engaged in a dynamic market, influenced by economic conditions and government policies.

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Office Property

The Australian office property market has faced complexities from to the COVID-19 pandemic. The shift to remote work led to increased office space vacancies in major cities like Sydney and Melbourne as businesses adopted flexible models. Landlords encountered challenges in attracting tenants, prompting some to reconfigure spaces for social distancing. While traditional office settings underwent reassessment, technology and innovation hubs experienced growth, adding dynamism to the market. Investors and developers adapted by incorporating sustainability features and modern amenities to remain competitive. However, the market’s fluidity depends on economic conditions, health developments, and global trends. For the latest and most accurate information, it’s advisable to consult real estate reports and industry analyses.

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Retail Property

Online shopping’s rise altered consumer behavior, impacting traditional retail spaces in cities like Sydney and Melbourne. Owners adapted by exploring innovative strategies, blending technology and enhancing customer experiences. The pandemic accelerated the integration of e-commerce with physical retail. Challenges prompted a reevaluation of leasing structures and tenant mixes, with some sectors, especially those offering essential goods and services, displaying resilience.

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Industrial Property

A lot has been written lately about upgrader demand for industrial property across Australia’s major markets i.e., tenants moving into newer, more efficient premises when their current leases expire. Indeed, amongst the eastern seaboard industrial property markets, the strength of demand for prime properties has outstripped supply, driving total market vacancy rates down to extremely low levels, fuelling rapid rises in rents. By way of example, with market vacancy rates now under 0.5%, average prime net stated rents in Sydney’s Outer West have risen by more than 60% over the last two years.

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Customer Stories

Case Study | QBE LMI

The Annual Housing Outlook 2022 – the Green Edition

The objective The objective of this work was to reinforce QBE LMI’s position by providing an outlook of housing market performance and stimulate informed discussion about environmental sustainability within the housing market and a state by state performance analysis of housing market prices and rents. The solution The project was approached collaboratively with the QBE…

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Maree Kilroy

Senior Economist, Construction & Property Forecasting, Oxford Economics

+61 (0) 2 8458 4283

Maree Kilroy

Senior Economist, Construction & Property Forecasting, Oxford Economics

Sydney, Australia

Geoffrey Snell

​​Principal Property Economist, Residential Property​

+61 3 8679 7302

Geoffrey Snell

​​Principal Property Economist, Residential Property​

Melbourne, Australia

​​Geof is a member of Oxford Economics Australia’s residential property team, analysing housing markets and demographic trends and forecasting capital city house prices and state dwelling commencements. He has a background in property analysis across sectors, including land studies, market commentaries, supply & demand, stakeholder consultation and exploring industrial market issues. Geof has a Bachelor degree in Business, with a specialisation in Property, from the Royal Melbourne Institute of Technology (RMIT). He was formerly on the Property Council of Australia (Victoria) Industrial Committee and has over fifteen years’ experience in the property industry.​ 

Geof has gained experience working on a diverse range of property-related projects across Australia for a variety of public and private sector clients. He has worked on market assessments for major residential, industrial, commercial, tourism and retail developments and has also provided background property analysis for economic profiles and activity centre planning. Geof has particular expertise in undertaking economic impact studies, examining the effect of a development project on the economy in a specified area. 

Timothy Hibbert

Head of Building & Property Forecasting, Oxford Economics

+61 (0) 2 8458 4270

Timothy Hibbert

Head of Building & Property Forecasting, Oxford Economics

Sydney, Australia

Timothy Hibbert leads the property, building, and demographic forecasting at BIS Oxford Economics. He has over 15 years of experience as an industry economist, working across government, consultancy, and subscription services.