Australia Industrial and Logistics Figures Q4 2025

Key Points:

• Gross take-up in 2025 exceeded the 2024 level by just over 10% - supported by strong leasing activity in the Sydney and Adelaide markets.
• The 2025 supply pipeline reached 15% above the 10-year long-run average.  
• Close to 50% of the 2026 supply pipeline is pre-committed.
• Upward movement in Incentive levels across most markets continue to impede on net effective rent growth, which continues to be in negative territory.
• We expect incentives will stabilise in 2026, with most markets forecast to record falling incentives post-2026.
• The national average midpoint yield for super prime grade assets has marginally compressed and stands at 5.66%. Yield compression was recorded for most markets.
• Investment sales for income producing assets (≥ AUD 10 million) for 2025 totaled around AUD 6 billion – with Sydney and Brisbane leading activity.