Over this period the market has weathered the tail end of a global financial crisis, a mining downturn, a pandemic and now a recession.
The chart and overview attached outlines office transactions in excess of $50million occurring within the Perth CBD over the last 10 years.
- Low transaction volumes post-GFC across 2009 and 2010, including three lower capital value receivership sales
- An uplift in transactions to pre-GFC levels with 8 to 11 recorded per annum throughout 2011 to 2013, including significant 50% shares in QV1 (250 St Georges Terrace), Exchange Plaza (2 The Esplanade), and 108 St Georges Terrace
- A decline in volume with only five sales recorded throughout 2014 and 2015, coinciding with the deterioration of the leasing market. Signs of yield compression begin to emerge across the spread of Prime and Secondary transactions