Sydney CBD Retail
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The Australian economy is showing resilience in light of global and regional economic slowdowns. Retail rents in Sydney CBD are amongst the highest in the world. In many ways these super prime and prime locations are more about branding than sales volume. Contrasting the high rental rates in the CBD, there is underlying volatility in Sydney’s retail market. The indicators are clear with falling consumer sentiment and poor retail sales growth. International retailers are coming to Australia in greater numbers and for larger retail tenancies. Shopping centres are dominant in the suburbs with an adverse impact on high street shopping. Online shopping is affecting sales volume of many brick and mortar retailers as consumers can purchase a variety of goods online for cheaper prices
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