New South Wales | 9 Across the Southwestern/Western Sydney markets, yields range from 4% on industrial property to 6% for retail and office space according to Mark Ammoun of Commercial Bankstown. Vacancy rates are tight – currently sitting at 2-3% for industrial assets, rising to 5-6% for retail space, and 5.5-6.5% in the office market. Mark explains, “The post-COVID acceleration in the commercial sector, and more specifically within the industrial space, has continued strongly throughout the year, with further growth forecast. “The market continues to perform with record levels of growth resulting in the best industrial property market we have seen.” The general market fundamentals in the Southwestern/Western Sydney regions continue to be strong, with demand considerably outstripping supply. Mark says this is resulting in double digit growth of industrial property values. “This is due mainly to a record low cost of money, and a large cohort of owner occupiers competing aggressively for the limited stock available, more often than not outbidding investors,” adds Mark. Mark Ammoun mark.ammoun@rhc.com.au Bankstown
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