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Brisbane's Struggle and Signs of Renewed Interest According to the AFR, Brisbane’s Logan Hyperdome mall, listed at $700 million, failed to secure a buyer, highlighting the disconnect between seller and buyer expectations. This led to a reset in local shopping centre values, causing some assets to be withdrawn due to pricing ambiguity. However, glimmers of activity from other big players ...

The industrial property market in SE Queensland is experiencing significant shifts, impacted by factors such as supply, demand, construction costs, and economic trends. Looking ahead to 2024, predictions suggest a nuanced landscape for these regions. Brisbane's Industrial Market: A Balancing Act In the second quarter of 2023, Brisbane's industrial market saw a rise in vacant space by 15%, rea...

The commercial property market in 2024 looks promising, with a period of transformation and opportunity across Brisbane, Gold Coast, and Sunshine Coast. Here are the top predictions set to shape these regions' commercial office landscapes in the coming year. Brisbane: Navigating Uncertainty Towards Stability Brisbane's commercial property market has weathered a turbulent period, facing inflat...

The Brisbane River has always been a great spot for locals, tourists and business owners. Whether you’re there for a gentle, quiet stroll along the riverside, taking in the sights of Brisbane’s skyline at sunset, or looking for a quality commercial office space or apartment with views, Brisbane’s riverside has lots to offer.  And it’s about to get busier. Two proj...

Southeast Queensland has been a hotbed of developments in recent years. As the already high population saw an increase in activity in 2023 that isn’t projected to slow down, the city continues to prepare for the Brisbane Olympics of 2032. Larger projects include Brisbane Live, an 18,000-seat arena dedicated to bringing top-tier entertainers to Brisbane from Australia and beyond, as well ...

As the end of the year draws near, Queensland’s capital city of Brisbane is experiencing one of the most incredible pricing booms since the end of the pandemic. Along with the rest of the country, Brisbane is expected to see a property price explosion in the coming year.  Following a spectacular 9.1% price increase since January 2023, many are wondering whether the city can keep up ...

As we navigate the new fiscal year, property investors need to stay savvy with their tax strategies to maximise returns and minimise liabilities. With the right planning and advice, you can leverage tax to your advantage. Here are five essential tax tips for property investors. Engage a Good Accountant: A skilled accountant who specialises in property investment can help you navigate tax de...

Technology is taking over the world, and Brisbane’s commercial property market is no different. Smart building systems and Internet of Things (IoT) integration are changing how commercial properties are managed and operated. Buildings are no longer just brick and mortar, they’re now intelligent ecosystems where technology plays a seamless role to enhance efficiency, comfort, securit...

In the past decade or so, the commercial property market in Brisbane has experienced many transformations – and one of the key drivers for that is sustainability and increased demand for green buildings. This change is not only shaping new development, but also investment decisions. This month, we thought we’d look at how sustainability is influencing Brisbane’s prope...

In the last few years, the way we work has seen a lot of change, thanks to COVID restrictions sending people home for months on end. As we move back into the office, many companies are recognising that they no longer need such large work spaces – people are quite capable of working autonomously. This is not only saving those companies money on space, but also providing more flexible optio...

As mentioned in our article What to expect in office property in 2023-24, sublease space in Brisbane is becoming more sought-after as businesses look at hybrid locations to run their operations. Rather than renting out an entire building, many businesses are leasing smaller spaces, where employees can go on a rotation system. And it’s proving popular. According to new research,...

The office property market is set for ongoing transformation as we dive into the new financial year. While we are experiencing economic uncertainties, the shift towards hybrid work models, and evolving tenant demands, commercial real estate is set for potential growth. The forecasted challenges in the market, including increased interest rates and possible recession, are expected to create a c...

Brisbane is on the brink of a major transformation. Construction has been underway at 360 Queen Street, which when finished will be a beacon of modern architecture and reshape the skyline of Brisbane. The project represents a new chapter in architectural history for Brisbane. It uses cutting-edge technology and materials to produce a structure that is both aesthetically pleasing and structural...

Brisbane is on the brink of a major transformation. Construction has been underway at 360 Queen Street, which when finished will be a beacon of modern architecture and reshape the skyline of Brisbane. The project represents a new chapter in architectural history for Brisbane. It uses cutting-edge technology and materials to produce a structure that is both aesthetically pleasing and structural...

According to new research by CoreLogic, residential property market movements in Brisbane have taken a turn as dwelling prices have shown signs of stabilising. The uncertainty around increasing interest rates likely played a part in changes in market conditions during the second half of 2022. Buyer confidence dwindled and attendance at open homes and auctions diminished. And with the tenth con...

Recent research has found there was a significant amount of interest in industrial property in the Brisbane area in 2022. Vacant space decreased by 14% in the fourth quarter and was 65% lower than a peak reached in 2021; it is currently at its lowest level in ten years. According to the Australian Industrial Review – Q4 2022, 1.1 million square metres of industrial space was taken u...

According to new research by CoreLogic, residential property market movements in Brisbane have taken a turn as dwelling prices have shown signs of stabilising. The uncertainty around increasing interest rates likely played a part in changes in market conditions during the second half of 2022. Buyer confidence dwindled and attendance at open homes and auctions diminished. And with the tenth con...

As inflation and cost-of-living concerns impact on the economic outlook, commercial property investors are expected to stay cautious until interest rates peak in 2023. Following a tumultuous year in 2022 in which the Central Bank raised interest rates eight times, the commercial real estate sector concluded on a sluggish note, with transactions stalling and confidence progressively declining. ...

The Property Council of Australia’s Office Market Report recently released has shed some light on the changing profile of the CBD and non-CBD office markets across Australia. The post-COVID-19 economy has been particularly challenging for some office locations, with many staff continuing to work from home. This shift has changed the nature of new take up of space and movement across regio...

Commercial property is a popular investment thanks to the historically higher rental returns, longer leases, and lower expenses than residential property, however, there’s no doubt the Australian market has been shaken by rising inflation, interest rate hikes, and recession fears. Still, the outlook is good. If you’ve decided to invest, here’s what you need to know. Office T...

The retail property outlook in Australia for 2023 is largely positive, with overall retail spending expected to continue its upward trajectory. In Greater Brisbane, retail property market conditions are particularly strong, and the city is seeing increased investment from retail developers looking to capitalise on growth opportunities. Retail vacancy rates for Brisbane remain low at around 5%,...

As office property demand remains strong in 2023, Brisbane will remain a key hub for office space. According to the recently released Property Council of Australia’s January 2023 Office Market Report, demand for office space in the city centre of Brisbane has shot up to more than four times the historical average. In the six months leading up to January 2023, the number of empty spaces i...

The industrial property market in Brisbane is anticipated to strengthen over the coming years, with industrial land and rental rates expected to increase in 2023. Demand for industrial space continues to grow, driven largely by increased interest from investors, coupled with high-value projects such as major infrastructure investments and urban regeneration efforts. This trend is expected to c...

Financing commercial property and development projects is a different proposition in the upward rate cycle we are experiencing, where bank policy and hurdle rates are changing faster than applications can be processed. Recently we caught up with James Kelder of Green Finance Group to discuss the approach that major financiers are taking to the changing landscape. Here’s what we’re s...

There’s no doubt the construction industry has had a lot of challenges in 2022. Here’s a few of them. Increase in materials cost The cost of materials is rising and there aren’t enough of them. This is especially true for wood, where states such as Victoria have promised to stop logging native trees by 2024. Not only that, but bushfires and floods have caused waves in su...

2022 Recap In 2021, house prices in Brisbane went up at the fastest rate in 13 years. Though growth slowed in other parts of Australia in the first half of 2022, Brisbane’s housing market continued to do well and unlike in Sydney and Melbourne, prices in the city are still much higher than they were a year ago. As of November, the median house price in Brisbane was $817,684. This is a d...

Prices to Stay Low According to the National Australia Bank, rising interest rates and the difficulty of obtaining a loan will keep commercial property prices low well into 2023. The NAB Commercial Property Index found it has become more difficult to obtain debt or equity funding in 2022, and there was an increase in the number of people who believed that debt and equity financing cond...

Despite ongoing pressure on household budgets, Queensland’s Retail trade has remained remarkably strong throughout the year, recording its 9th straight month of growth. Queensland’s seasonally adjusted retail turnover has increased by 9.7% over the past 12 months.Australian hospitality businesses are set to benefit the most from the imminent Christmas spending spree, with trade...

There’s not enough housing in Australia and we have a low level of institutional housing investment – despite having the world’s third largest pool of capital in our superannuation system. The Budget offers: A National Housing Accord Under a new national Housing Accord, the government is bringing together the states and territories, the Australian Local Government Associatio...

The Government has committed billions to the development of infrastructure in the next decade or so. These include: For Queensland, this includes $586.4 million to upgrade the Bruce Highway through Brisbane’s outer northern suburbs and $210 million to upgrade the Kuranda Range Road. In other states: New South Wales, $500 million for corridor acquisition, planning and early works...

This year’s Budget included aspects to help more Australians become home owners, through the following: Regional Guarantee for First-Time Home Buyers The government will help 10,000 eligible first-time buyers in regional Australia buy a home every year by guaranteeing up to 15% of the price. Helping Veterans Buy Their Own Homes The Defence Home Ownership Assistance Scheme will...

The development site space is the most talked about sector in our market at the moment. With development margins either being squeezed or non-existent, the conundrum that a project has strong underlying demand for the end product, but the financial viability of the project simply doesn’t stack-up is a common narrative. The result of this is downward pressure on site values as developers l...

Brisbane’s office market continues to show signs of recovery in net absorption and occupancy rates, assisted by a lack of new supply coming online and more workers returning to traditional office hours. Driven by significant population growth, major infrastructure investment, and a 13-year low in unemployment, the immediate future looks bright for our CBD. However, there is still a c...

Medical centres are actually some of the most sought after investment properties in the commercial market – they have good rental returns and stable tenants. But there are a few pros and cons you need to think about before going down the medical centre road. The positives To start with, the medical centre market remains largely unimpacted by changes to the economy like residential or re...

After an unprecedented period of uncertainty caused by the pandemic, growth in Queensland’s hospitality and tourism sector is back on the agenda. Of all the Australian Capital’s, Brisbane is showing the strongest recovery and leads the nation in domestic overnight expenditure, despite having a much smaller economy than our friends down south. Since Brisbane was announced as the ho...

There’s no doubt property is booming across Queensland, with prices skyrocketing for sales and leases in every property market. This trend has led to growth in places like the Gold Coast and Sunshine Coast, where prices are growing much faster than in Brisbane. And where increased housing demand has led to greater infrastructure projects and more appeal for commercial property. Most ana...

Click & Collect was first introduced to Australians in the early 2010s. In 2015 there were just 24% of retailers that offered the option, and 2019 that figure was at 40%. During the COVID-19 pandemic, more Australians shopped online than ever before. According to stats, there were 1.7 million new online shoppers in 2020; with 1.4 million of those households continuing to buy online in 2021...

Interest Rates, Australia 10-Year Bond, Weaker AUD where to from here? With the Reserve Bank of Australia (RBA) raising the Official Cash Rate on Tuesday by 25bps to 2.6%, commercial property investors and developers will be looking to reassess where they see real value and how much risk appetite they are willing to accept. The rate hike marks the sixth rise from the RBA since May this year, w...

The Gold Coast has been a hotspot for development since the economy began to roar back to life this year, following two years of lockdowns and loss of employment and loss of industrial activity. The construction industry across the country has been crying out for new developments and the Gold Coast has not disappointed. With much to be excited about in 2022 and beyond, construction in Australia...

While the housing market is absolutely on fire, the same cannot necessarily be said for the retail market in Brisbane. According to industry reports, Brisbane recorded a retail property vacancy rate of 18.9% in H1 2022. Though that might sound discouraging, according to Herron Todd White, Brisbane’s retail economy and therefore retail property is on its way back to its best. ...

The coastal vibe of Maroochydore is currently one of rapid expansion, amid economic growth that has spurred a construction boom across the country that has now reached the shores of Maroochydore. The Sunshine Coast Council has approved a plethora of new building projects – over 500 units of housing have been approved by the council. It’s a good thing too, as there’s be...

According to a survey of Property Council members, Australia’s property industry has less confidence because of the current state of the economy. The survey found that the overall Confidence Index fell 19 points in the June quarter. Ken Morrison, the CEO of the Property Council of Australia, said confidence was down because of things like inflation, a lack of skilled workers, and broken ...

While there has been a lot of focus on where there are enough child care workers to meet demand, a more important question to ask is: are there enough child care centres to meet demand? We are at the tipping point. According to a survey from Australia Talks, 57% of rural families struggle to access child care. This compared to just 41% of families in inner-metro areas. Child care is a vit...

Land Lease Communities are growing in popularity all over Australia with some states offering more than 500 communities. Are they a solution to affordable housing? Let’s take a look. What Are Land Lease Communities? A land lease community gives you the chance to own a building, without buying the land – which is usually the big expense when purchasing property. It’s an oppor...

National Australian Built Environment Rating System (NABERS) is a sustainability measurement used across the building sector. It’s a simple and reliable way to measure the sustainability of offices, shopping centres, data centres, hotels, and apartments, etc. It’s part of the Australian initiative to achieve the 40% energy productivity target of 2030 and falls under the National Ene...

Whether you own a single commercial property or an entire portfolio, its success hinges on effective management. The owner will need to go to great lengths to ensure they meet the needs of both the building and the tenant. It’s a time-consuming prospect. It also requires expertise that not every commercial property owner has. As such, commercial property owners should consider enlisting t...

COVID changed the way we operate as a society. It forced businesses to change processes; it reshaped working from home, and the result was big wins or major losses depending on which sector you operate within. Commercial property was no different. Within the sector, there were winners and losers. Which is why it’s a good time to ask the question – what makes a good investment post-C...

While COVID has impacted the world over, at McGees Property, we have been lucky to remain operating in full capacity throughout 2021. However, after 2020, we made changes to adapt to the shifting world, just as many businesses were forced to do. Much like others, our first step was to introduce new advanced technology. While video technology was a large part of that, technology as a whole allo...

When it comes to commercial real estate, COVID-19 has certainly impacted several sectors, many of which are still uncertain. However, some areas defied the odds to buck the trend – and service stations (or fuel stations) is one of them. Service stations have thrived over the past 12 months as a business (and an investment). Many people avoided public transport for travel and othe...

The cost of the average new build has hit its fastest increase in over 20 years – largely due to the increased cost of construction material and labour shortages. The situation with materials was at its worst from March until May, lengthening lead times and seeing prices soar. The worst of it impacts the domestic sector and this is expected to improve no earlier than the first q...

Los Angeles. Paris. London. Brisbane. After the announcement in July, the Queensland capital will join the list of iconic Olympic cities in 2032. Brisbane will be the 24th city to host the Games and the third capital in Australia after Melbourne 1956 and Sydney 2000. Premier Annastacia Palaszczuk said that the economic modelling showed the Games has the potential to drive Queensland&rs...