Adelaide Retail Figures Q2 2025

Key Points: 

• Retail sales growth in SA is improving, up by an average of 3.6% y-o-y in the three months ending May 2025, above the average 1.4% y-o-y growth in the same period last year.
• There was c.20,500 sqm of retail supply recorded for Q2 2025, following completion of the Stage 6 expansion of Burnside Village (for developments ≥ 3,000).
• Neighbourhood centre net face rents increased 0.7% q-o-q and 3.7% y-o-y to an average of $521/sqm. Average net face rents remained stable q-o-q across the other retail categories.  
• Average incentive levels for super prime CBD decreased by 174 bp q-o-q to 8.3% and average neighbourhood centre incentives decreased by 94 bp q-o-q to 14.1%.
• The sale of Kurralta Park Village for an adjusted price of $74.6 million was the most notable investment transaction recorded during Q2 2025.
• Yields across Adelaide’s sub regional centres decreased by 8 bp q-o-q to an average of 6.46%, neighbourhood centre yields decreased by 13 bp q-o-q to an average of 5.94% and prime large format retail yields decreased by 8 bp q-o-q to an average of 6.05%.