‒ Australia’s e-commerce penetration rate continues to rise and is at a new record of 14% (or AUD 51 billion over the past 12 months).

‒ 35% of total gross-take-up in 3Q21 was attributed to occupiers within the Retail Trade sector.

‒ Gross take-up is expected to reach a record level year by year-end, with leasing activity surpassing 3 million sqm over 2021YTD.

‒ Total new stock completions over 2021YTD has reached the 10-year annual average (1.45 million sqm) and is expected to total 1.97 million sqm by the end of the year.

‒ Rental growth recorded across all major markets in Australia over the quarter, for all asset grades - mainly owing to record low vacancy (sub-2% national average).

‒ Yields continued to compress across all major markets nationally, and super prime and prime midpoint yields are now tighter than the CBD office sector.

‒ Investment sales (≥ AUD 10 million) over 2021YTD total around AUD 9 billion, already making it a record year of transaction activity.