Interestingly, an increase in retail rental growth was recorded in November, being the same as recorded for offices at 24 per cent. On aggregate and across all types/grades/location of space listed on the market, the industrial average continues to move upwards and is at R32/m²; with office rentals averaging just shy of R60/m², and retail now at R82/m².

This trend will continue to feature prominently in the income growth/distributions of property owners and listed property investors and should serve to appease some investor skittishness around the uncertainty in rise interest rates (a further 50 bps is expected today unless Tito and Co do an about turn and feel some festive generosity). For new developments, the growth is roughly in line with building/development inflation.

* The Rental Barometer serves as a broad indication of commercial property rental growth in SA and is based on a dynamic non-weighted sample as measured at a point in time and every two months across all available markets. The Barometer should in no way serve as providing a platform for negotiating market rentals, etc. The data is refined over time.