Retail sales grew by 2.2% y o y (3mma) in the 12 months to May 2020

 

National retail rents remained broadly stable in Q2 2020 primarily due to lack of deal flow to substantiate change. Most markets saw net face rents unchanged but there was some incentive expansion. For Prime CBD retail, this averaged 85bps for the quarter

 

Consumer confidence has shown a strong recovery from its trough in April at 75.6 but remains weak

 

Investment activity in H1 2020 totalled $833m, down on the $2.7b recorded in H1 2019. Investment volumes are likely to remain constrained in 2020 as uncertainty looms over the economy

 

Yields expanded a further 8bps for Prime CBD retail in Q2 20 and 19bps for Regional CBD retail in Q2 20 and 19bps for Regional Shopping Centres