Retail property could see a boost in NT
Knowing which types of property have the most potential for return is an important part of real estate investment. After all, office space may be the hot ticket in one area, but industrial property could provide better profits in another.
If you're thinking about commercial property in Winnellie or surrounding areas, you may want to look toward larger retail properties, according to a new report from CBRE.
The organisation stated in a 13 May media release that the large format retail sector is set to deliver an average of 8 per cent returns over the next five years due to rent growth and yield compression.
"Dwelling approvals across Australia continue to trend upwards, with a 27 per cent increase in the year to January/February 2014," said CBRE associate director for Australia research Claire Cupitt.
"This trend should stimulate the large format retail sector over the short to medium term as demand for goods associated with the residential construction sector filters down the supply chain."
The Northern Territory is among the areas of Australia to see increases in housing finance commitments over March, which could significantly benefit the large format retail sector in the region.