Retail sales grew by 2.9% y-o-y (3mma) in the year to May 2019.

National retail rents experienced slight softening in Q2. Whilst department stores begin to hand back space, both luxury and fast fashion retailers continue to perform well. 

In June, consumer confidence dropped to 100.7 from 101.3 in May.

Investment activity in H1 2019 totalled $2.1b, down 47% on the $4.0b recorded in H1 2018. In H2 2019, investment volumes are likely to rise significantly as investors look to reweight portfolios. 

In Q2 2019, yields for CBD and neighbourhood shopping centres remained stable, whilst regional and sub-regional centres experienced some softening (+5bps q-o-q).