As we move through 2024, the commercial property market is starting to show cautious optimism.
The recent drop in the Official Cash Rate (OCR) in August by 25 basis points to 5.25% has brought some welcome relief to borrowers, with reducing interest rates expected to track further cuts in the OCR in 2024 and through Q1 and Q2 2025.
Market sentiment has improved with businesses now expecting their customers to have more confidence in transacting on the back of overall improved consumer confidence, reduced costs and overall inflationary pressures.
While some sectors are facing challenges, the demand for quality spaces has kept things ticking along. Businesses are still keen on securing spaces that offer flexibility and long-term value, even as they navigate ongoing changes in work practices.
As the market finds its footing, it’s more important than ever that property solutions are tailored to clients’ goals. For us, combining market analysis with a personalised strategy means we can continue to achieve the best long-term results for our clients.
