Uncertainty in the local and global economy, risks to the inflation outlook and low levels of construction activity is dampening prospects for growth. However, recently announced spending on infrastructure projects could boost prospects for much needed jobs.

Although investors are starting to commit to speculative developments in anticipation of a turnaround and vacancies have reduced, the industrial market still favours occupiers indicated by shorter lease tenure and lack of robust rental growth.

The attached report details the following:
 
•         Economic outlook and implications for property
•         Office market overview (including vacancies, available space, rental performance and current developments underway)
•         Industrial market overview (Demand, rental performance and current developments underway)