The Australian commercial real estate market slowed dramatically in Q1 2020 with just $3.0 billion worth of transactions recorded. This was 81% lower than the $15.6 billion recorded in Q4 2019, which was second largest quarter on record trailing only Q4 2018.
- Annual volumes remain elevated at $42.4 billion thanks to the record volume of $45.6 billion achieved in calendar 2019.
- The office sector dominated transactions with volume of $1.6 billion recorded for the quarter, down 78% on Q4 2019 levels.
- Retail transaction volume for Q1 was down 77% on Q4 2019 levels, while industrial fell by 72% on Q4 2019.
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