Vacancy rates across Perth\u2019s retail strips have fallen \u2013 bucking the national trend \u2013 as a favourable economic climate across WA <\/p>\n
Ray White Commercial WA\u2019s latest market report The Insight: Perth Retail Strips, revealed a significant turnaround in the city\u2019s retail landscape, with the average vacancy rate across eight key strips falling to its lowest point since 2018.<\/p>\n
This positive trend is a direct result of a favourable economic climate, characterised by low unemployment, sustained population growth, and a flourishing residential property, according to director of capital markets Brett Wilkins<\/p>\n
\u201cThe survey of 581 tenancies across key locations reveals a dynamic shift in the retail mix, with a notable move away from traditional retail categories toward experiential and service-based offerings,\u201d Brett Wilkins said.<\/p>\n
While strips like Albany Highway and Leederville have solidified their reputations as dining destinations with a high concentration of cafes, restaurants, and specialised food retailers, other strips have maintained their unique character.<\/p>\n
Bay View Terrace in Claremont and Napoleon Street in Cottesloe continue to buck national trends, remaining strongholds for high-street fashion and lifestyle retail, a testament to their affluent local catchments.<\/p>\n
Meanwhile, Scarborough Beach Road in Mount Hawthorn has firmly established itself as a services hub, with an impressive 36.86 per cent of its tenancies dedicated to health, beauty, and wellness services.<\/p>\n
Brett Wilkins, who has been analysing Perth\u2019s retail strips for nine years, commented on the findings.<\/p>\n
\u201cThis report highlights the resilience and adaptability of Perth\u2019s suburban retail precincts. The improvements in vacancy rates are not just about a strong economy; they are a reflection of savvy business owners and landlords pivoting to meet consumer demand for unique, in-person experiences and essential services,\u201d he said.<\/p>\n
\u201cWe\u2019re seeing a flight to quality as local private investors and owner-occupiers compete for well-tenanted properties, reinforcing the long-term value of these locations. While challenges like inflation persist, the data points to a very healthy and stable market with a bright outlook.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Vacancy rates across Perth\u2019s retail strips have fallen \u2013 bucking the national trend \u2013 as a favourable economic…\n","protected":false},"author":2,"featured_media":52179,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[85,46,141,386],"class_list":{"0":"post-52178","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-wildlife","8":"tag-il","9":"tag-israel","10":"tag-science","11":"tag-wildlife"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/52178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=52178"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/52178\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/52179"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=52178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=52178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=52178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}