Industrial GVA was negative at Q2 2019 (-3.0% y-o-y), the lowest rate of growth since the GFC.
Average industrial rents were relatively stable over the quarter in all markets except Perth. Super prime net face rents fell -0.8% q-o-q, with the 5.4% q-o-q decline in Perth dragging down the Australian average.
Super prime yields remained flat in all markets except Adelaide, supported by the abolition of stamp duty and an influx of investors priced out of the Melbourne and Sydney markets.
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 Q3 2019 were down 2.8% when compared to Q2 2019 and totalled $1.5b.