Australia Real Estate Report 2016
BMI View: Australia's real estate sector continues to see investment from Asia as slowing local marketsand an attractive AUD exchange rate present opportunity, particularly to the property manager. Investmentis strongest in the retail sector and is expected to mitigate the downturn in mining output and exportproduction affecting in demand for storage facilities in the industrial sector. Such demand in the retailsector from consumers and investors alike stands to benefit the large shopping mall complexes and luxuryretailers as demand for the traditional high-street store is seen to be tapering off.
Australia's real GDP growth slowed further in Q215 coming in at a subdued rate of 2.0% y-o-y, versus anupwardly revised rate of 2.5% y-o-y in Q115, bringing economic growth for the first half of the year to2.3% y-o-y. We continue to see headline GDP growth at subdued levels over the coming quarters due todomestic and external economic weaknesses, and we therefore maintain our below consensus 2015 and2016 real GDP growth forecast of 2.3% (versus 2.7% in 2014).
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