2017 will see a new record high in transaction activity for Australian retail investment according to investment management company JLL Australia.
The key factor behind this forecast is Investors capitalising on the favourable market conditions.
The annual Australian Shopping Centre Investment Review & Outlook has revealed that 2016 was the fifth consecutive year Australian retail investment exceeded $5 billion.
The year proved to be one of active investment with transactions reaching $7.3 billion, approximately 18% lower than the record of $8.9 billion reached in 2015.
Investor demand also remained strong, with offshore investors leading acquisitions and accounting for 32% of transactions in 2016 ($2.3 billion).
CBD and sub-regional shopping centre transactions continued to be a key area for growth in the retail market.
CBD set a new record high of $1.9 billion in 2016 while sub-regional accounted for the largest share of activity at $2.1 billion (28%).