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REIQ Journal : July 2008
Lang LaSalle in quarter four 2007 showed that vacancy levels were the lowest in over 15 years. The average figures were 2.9 per cent for the CBD and 0.5 per cent in regional centres. Solid GDP growth and continued low unemployment should provide support for retail spending. The strong Australian dollar is also helping to keep the price of imported goods low for retailers. Th major factors influencing trading prospects in April were fuel prices, with a net balance of -85 per cent; followed by interest rates, with a net balance of -82 per cent. As anticipated, recent press on the economy also had a major negative influence, with net balance of -77 per cent while general spending levels and economic outlook were at -72 per cent. With all the negative factors affecting retailers, it is not surprising that occupancy costs are no longer seen as the major influence on future trading prospects, with a net balance of 62 per cent. Retailers who responded to the Jones Lang LaSalle survey occupy more than half a million square metres of retail space in over 4,000 locations throughout Australia. REIQ Journal July 2008