Retail also outperformed and had a strong finish to the year, with volume in the fourth quarter rising to $5.8 billion. This was largely thanks to the complex $2.2 billion deal in which
Benjamin Henry-Martin, RCA’s local head of real estate research, said there was an element of catch-up in 2021’s sales surge. “Those investment decisions appear to have been acted on in 2021, which is why we’ve had such a strong year.”The Sydney office market topped sales at $8.7 billion, followed by Sydney industrial with $8.2 billion. Then came Melbourne industrial at $7.4 billion, Melbourne office at $4.7 billion, and Sydney retail at $4.6 billion.
Overseas investors GIC and Blackstone dominated, twice selling each other major industrial portfolios.
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