Foreign investment in Australian property rebounds
Real estate investments in Australia surged 32 percent quarter-to-quarter to A$9 billion ($6.9 billion), the strongest third quarter of the year since 2014, according to Cushman & Wakefield’s third quarter MarketBeat report.
Unlike in second quarter 2016, when the market was driven by a comparatively small number of larger deals, activity in the third quarter was shifted toward the lower end of the spectrum, with an average deal size of A$47 million ($36 million).
Available stock in Australia’s office sector remains comparatively tight, resulting in below average investment volumes. In light of weaker investment in the office sector, other sectors performed more strongly to drive the quarterly result. At A$1.8 billion ($1.4 billion), the industrial sector recorded the strongest quarterly result since third quarter 2014. The retail sector also was buoyant, with more than 70 transactions recorded for the quarter, resulting in total inves