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Aussie Shopping Centre Rents Recovering: Colliers

Australia’s retail rental market is recovering, as borders reopen, lockdowns cease, and the country attempts to get back to normal.

Colliers research finds that average gross rent prices across shopping centres increased by 1.8 per cent during the first three months of 2022.

“Major contributing factors include national and international border openings, the lifting of mandatory lockdowns and a rise in consumer confidence,” said Michael Bate, head of retail at Colliers.

Regional shopping centres are still struggling, with rents decreasing by 0.8 per cent over the quarter. Rents increased by 1.3 per cent across the CBD markets, with Brisbane rents leaping 4.1 per cent.

“We are witnessing an increase in demand from private business owners as well as small and large retailers wanting to secure retail space,” said Bate, “which is leading to an absorption of secondary retail sites.

“This is consistent throughout the CBD and suburbs.”

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