Retail is again set to be the top-performing property sector over the coming year, according to a forecast from Colliers CRE.
It expects retail to produce a total return of 15.8 per cent this year, beating both offices and industrials. Within retail, shopping centres are expected to perform best of all.
Colliers CRE head of valuation Russell Francis said that those who expect the shopping centre investment bubble to burst could be mistaken.
'While many are calling the top of the investment market the result of the major positive yield shift that has already occurred, set against rising interest rates, our opinion is that current values will be supported by the huge unsatisfied demand of institutional investors,' he said.
Colliers CRE calculates that in-town rents have grown at an average 3.1 per cent over the past 12 months, while outof-town rents have soared by 11 per cent year on year.