The NSW economy managed to weather the challenges posed by the Omicron variant in the first quarter of 2022, with the recovery from 2021’s lockdowns continuing. We anticipate a continuation of robust rebound in economic growth over the remainder of 2022 and into 2023 as the state’s strategy of living with COVID becomes further entrenched. This will flow through to stronger than typical demand for industrial property space. Sydney Sydney prime industrial market indicators South North Central West Outer Net face rent ($ sqm) $260 $235 $170 $140 Incentive (%) 7.0 11.0 8.0 8.0 Yield (%) 3.5 3.9 3.7 3.6 Capital value ($ sqm) $7,453 $6,040 $4,597 $3,908 3 36-48 Ashford Avenue, Milperra NSW 2214 Industrial Market Monitor | 2nd Half 2022
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