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.