Real estate service provider Savills has released research that shows a decline in retail property transactions over 2016.
Research revealed that $6.54 billion worth of retail property transactions took place in 2016 by Savills, this was down from the $9.38 billion in the previous year.
The retail property sales were also slightly down from the five year average of $7 billion.
199 properties were sold over the period, ending in December 2016, again down from the previous years sales of 277.
NSW registered a strong decline, with sales in the state down from $2.97 billion in 2015 to $1.94 billion in 2016.
Savills' national head of research Tony Crabb said the retail sector was not immune from challenges such as these, as it had encountered the before.
"The retail sector always faces cyclical and structural issues. Some cyclical issues are starting to move in its favour.
"Employment is growing strongly in four or five sectors and shrinking in four or five sectors and the jobs gained and lost are not necessarily in the same physical place. This means certain catchment areas are doing it tough and some are doing well."