34 | Insights H1 2025 Brad Wallace of Commercial Newcastle explains that 2024 has been another eventful year for commercial property across the Newcastle and Greater Hunter markets. “It has been filled with conflicting drivers that have pushed and pulled property values and market activity,” says Brad. “In 2025, it is likely that we will start to see more transactional activity.” At the lower market tiers (such as convenience and neighbourhood centres), Brad says there is still a high level of buyer demand for quality assets. Yield softening has not been as pronounced. However, there have been low levels of stock availability. “We saw a heady amount of activity across our industry right through to the holiday period,” notes Brad. “There appears to be an appetite among commercial property investors and owner occupiers to maintain the momentum, which makes me optimistic about 2025’s commercial property sector and the economy.” Brad Wallace brad.wallace@newcastle.rh.com.au Newcastle Office Industrial Retail Rents p/m² Vacancy Yields Rates p/m² Six-month market outlook For more information, contact: Office Industrial Retail Rents p/m² $200-$500 $140-$225 $200-$500 Vacancy 15% <4% 15% Yields 7-8% 6-8% 7-8% Rates p/m² $4,000-$9,000 $2,000-$3,500 $3,000-$4,000 Current market conditions $1,750,000 70-78 Oxford Street, Gateshead Recent Notable Transactions SOLD $840,000 4/3 Ranton Street, Cardiff SOLD
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