Future Directions Market Outlook
The first Future Directions event of the year, Development Market Outlook, was held on Thursday 6 March at the Novotel Brisbane pool deck.
Over 80 guests attended the networking cocktail event, to hear the market outlook for the year ahead.
Sarah Scruby, Development Manger- Frasers Property and Chair of the Property Council’s Queensland Future Directions Committee, moderated the evening and asked questions that stretched across a range of topics and asset classes.
Shrabastee Mallik, Director Research & Consultancy – Savills, provided an overall outlook across many of the economic factors affecting the property sector, including her insights on the Banking Royal Commission and the repercussions this may have on the industry.
Mel Pikos, Director – CBRE, provided a deep dive into the office market space, focusing on Brisbane’s CBD and Fringe. Throughout, Mel explained that with very few additions due to enter the market in the coming years, and relatively low vacancy rates across Brisbane’s CBD, the sector may swing to a landlord’s market.
Josh Sondergeld, Project Director, Residential Development Qld– Stockland, presented his outlook for residential property in Greater Brisbane, with a focus on the positive underlying fundamentals of the residential market.
Finally, Katrina Warren, Regional Manager Queensland – Vicinity Centres closed the evening with her analysis of the retail market. Katrina spoke to the tough conditions retail has faced in recent years and, optimistically, explained the opportunities that have resulted from this.
The Property Council would like to thank Sarah, Shrabastee, Mel and Katrina for providing their analysis and opinions on the year ahead. Thank you also to our Principal Sponsor, Savills.
Photos from the event can be accessed here.