Burgess Rawson sees vendors re-engaging with market, signals “yield sharpening ahead”
Adam Thomas, Managing Director Queensland at Burgess Rawson, the early childhood education and care (ECEC) focused real estate and business broker, has signaled that a change in the commercial real estate market appears to be under way after a tricky 2023.
Commenting after an internal Q1 Economic Huddle with REA Group economist Anne Flaherty, Mr Thomas said in a recent social media post, “It’s clear there’s a notable shift in the commercial real estate landscape.”
“In 2023, we witnessed the lowest sales volume in a decade, a cautious response from vendors amidst market uncertainty. Fast forward to 2024, and the tide is turning.”
“With interest rates finding their footing and the Australian economy showcasing its inherent strength, we’re navigating towards a ‘soft landing’ from recessionary pressures. This renewed confidence is evident as vendors re-engage with the market.”
The year has started encouragingly for the Group with vendors more willing to commit properties to the auction and EOI processes as economic concerns linked with rising interest rates continues to abate.
“This new wave of activity, buoyed by market stability, signals a season of yield sharpening ahead,” Mr Thomas said.
“Our message to investors is clear: now is the time to look at the quality and potential that commercial property offers.”
Burgess Rawson’s upcoming portfolio auction will be held on 20 and 21 February and includes a range of early childhood education and care freeholds on offer.
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