Australian offices 'set to outperform other commercial assets'

The value of offices down under has been predicted to rise above other commercial property in Australia.

A survey from National Australia Bank (NAB) showed that capital city office values will grow by three per cent in the next couple of years, including a 1.6 per cent rise by December 2012, Bloomberg revealed.

Despite this boost for office properties, the report showed retail real estate values will drop by 0.5 per cent by December, while the industrial property market will be static.

Confidence in Australian business has risen recently, reaching an eight-month high last month, at the same time that consumer confidence rose as well, according to figures published by the news provider.

This comes after CB Richard Ellis (CBRE) Australia reported earlier this month that foreign investors will carry on putting money in office real estate in the nation.

It stated demand for commercial investment opportunities will continue to provide a boost to property sales.

Like this? Then share with your friends and colleagues!