Placemaking a mega trend for Australia’s property market: CBRE

Placemaking a mega trend for Australia’s property market: CBRE

17 March



In a low growth environment, a number of mega trends will shape the Australian property market over the next few years as investors focus on portfolio optimisation, placemaking and the potential to invest in new sectors and locations.

This was the over-arching theme of CBRE’s annual Melbourne Market Outlook presentation, which also highlighted the continued outperformance of Australia’s south east property markets – in particular, Melbourne and Sydney.

CBRE’s Asia Pacific Head of Research, Dr Henry Chin, noted that this was driving a heightened interest in trends such as placemaking, as owners sought to unlock property value through asset repositioning.

“Landlords should be striving to create a community of tenants instead of simply providing office space,” Dr Chin said.

“You have to create communities to keep tenants in your building and that’s why we talk about placemaking.”

Mr McNabb referenced CBRE’s recent Millennials survey, which had highlighted the heightened focus of millennials on areas such as greenspace and wellness in the workplace.

“Decision makers need to start looking more at employee data to drive their decisions as customer expectations are changing,” Mr McNabb said.

Read more at CBRE