Financial Year Review 2023/24

The Western Australian commercial property sector has experienced varied outcomes in the last year, with some assets classes performing well and others creating opportunistic buying opportunities. 

However, persistent high inflation has dampened hopes for interest rate cuts, causing property owners to remain cautious in testing the market. This conservative approach led to reluctance in testing the market, resulting in tight supply and low transaction volumes. 

The retail sector has been the primary beneficiary of these buyers, with increased market volumes this year. However, medical and other alternate assets have also performed strongly. Industrial supply continues to be tight, with owner occupier profile buyers creating demand and bolstering prices.

Private buyers and owner occupiers have featured heavily throughout the financial year.