State of the Industry: Australian Commercial Real Estate

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In December 2022, REIA released our inaugural State of the Industry: Australian Commercial Real Estate, powered by Re-Leased.  

This State of the Industry Report provides a robust benchmark for commercial practitioners and identifies the areas where we need better data and evidence.  

It identifies five key structural considerations for the commercial practitioner and examines the top ten opportunities 2023 offers. 

Economic and Demographic Outlook  

  • Interstate migration is expected to normalise to pre-COVID patterns, with Queensland to remain the most popular destination
  • International migration will grow, with 235,000 migrants expected between 2023-24
  • OECD forecasts predict 2.5% GDP growth for Australia in 2023, with the labour market remaining strong
  • Energy costs are predicted to rise 56% in 2023
  • Business and consumer confidence has hit equilibrium or record lows in 2022

Operating Environment  

Commercial real estate has five key structural considerations looking ahead to 2023 of:  

  1. Population Changes 
  2. Sustainability 
  3. Monetary Policy and Construction Costs 
  4. Supply  
  5. Automation and Technology 


Opportunities on Offer  

The key opportunities over 2023 for commercial investors, occupiers and practitioners were identified to be:   

  1. Regional commercial investment 
  2. Industrial property offered with full automation and logistics solutions 
  3. Energy efficiency innovations 
  4. Future proofed buildings 
  5. Energy efficient ‘green’ buildings 
  6. Revived office opportunities 
  7. Undersupply to drive industrial rental growth 
  8. Future development sites
  9. In-house automation solutions for occupiers 
  10. In-house automation solutions providing new value points for investors
Read the media release

Future REIA Data and Reporting 
Throughout 2022, Australia’s commercial practitioners told us they are hungry for insights, information, in-person engagement and more tailored tools in the toolbox to position their business for success.  

REIA will be working on a tailored research program over 2023 to deliver on this across key categories of: 


Undersupply/oversupply using a scale method

By location

By sector


Undersupply/oversupply using a scale method

By location

By sector


Uptake by sector

Uptake by location

Future investment intentions


Key business trends and insights