Colliers’ latest analysis of national commercial and industrial property sales1 shows that over the 12 months to June 20202, there were 3,258 transactions with a total value of $7.5 billion, well down on previous years. The industrial sector comprised 43% of the total value and 51% of the total number of sales.
Unsurprisingly, given the huge disruption caused by COVID-19, trends are significantly different when viewed in six monthly blocks. Sales concluded in the second half of 2019 generated just under 75% of the total number of properties transacted and approximately 72% of the total sales value over the 12-months to June 2020. Sales volumes over the first half of 2020 with 814 transactions and a total value of $2.07 billion was well down on the previous six-monthly results. While a ‘wait-and-see’ approach was undertaken by many investors during the disruption from COVID-19, the lag in data reporting for the opening half of 2020 will have also played its part. As we progress through the year, we expect the total number of sales and total value to edge up, but there is no doubt that the totals will remain below recent annual results.
1. Commercial and Industrial properties as well as vacant land that transacts for $10,000 or more sold by any agency or privately.
2. First half of 2020 figures provisional
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