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Dexus Perth Tour

Dexus provided its investors an overview of the Perth property market and a tour of some of its key assets in the market.

The Perth Property Market update was presented by JLL. Key points included;

  • Resurgence in GSP from Mining related sectors

  • Employment levels substantially increasing from mid 2016 low

  • Exports to China lead the recovery

  • Premium Grade vacancy is volatile, currently at 15% following recent completion of Woodside tower.

  • Chevron Tower 53,000sqm is only major building likely to proceed

  • Sub lease space has dropped dramatically

  • Overall Vacancy to drop from 20% to less than 15% by 2023

  • Effective rental growth returns

  • Positive net absorption due to a return to the City for many corporations.

See Presentation