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Asia Pacific - Australia, the first port call

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Asia Pacific - Australia, the first port call

A focus on the top 25 Global Cities, as defined in previous AXA IM – Real Assets research, includes many within the Asia Pacific region.

Included in the top 25 are Australian cities Sydney and Melbourne, which are liquid markets, with respected rule of law and long-term growth in office employment. The Australian economy is currently undergoing a transition away from a large resources and construction focus, to a more services-based economy. While Australia has made good progress to date, there is still further to go – construction employment still outweighs that of professional services. In Perth, the commodities hangover is still evident. As the commodities super-cycle played out, Perth and resources-rich Western Australia (WA) rode the boom. But with commodities prices and investment in WA well past their peaks, vacancy rates are high and rents are still falling.

Source : AXA Real Estate

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