The past two years haven’t been easy for many real estate sectors, in particular for retail, despite online shopping hitting new highs.
However, as we emerge from pandemic lockdowns and international border reopen, what’s next for the retail sector?
In this TUD Plus Briefing, taken from The Urban Developer’s Retail Property vSummit, director of Location IQ Gavin Duane outlines his predictions, with the good news that while things may slow, opportunities remain.
Duane said the ending of isolation meant retail now had more competition for consumers’ dollars, including people keen to again travel overseas.
“In the next 12 months, we're still going to have some low population growth, inflation is increasing, real growth should remain relatively high,” he said.
“And that should mean a relatively robust retail sales environment.
“In the post 12 months, will have stronger population growth. Inflation will be increasing or moderating depending on a range of factors.
But real growth and what we spend on retail will have a lot more competition.
“I suspect we'll go back to a period where growth will be slower.
“So, the key for people is, in my view—there is a market out there. the question is can you make that market?”
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