$27.7bn
$X.Xbn
56,575
55,299
$X.Xbn
Retail property operators have contended with volatile trading conditions over the past five years. Although demand for retail trade has grown, online shopping's mounting popularity has constrained demand for traditional bricks-and-mortar locations as some retailers have reduced their in-store presence to soften rent costs. Previously, low interest rates supported the development and supply of retail properties for lease. Low interest rates also provided tenants greater bargaining power for more desirable lease agreements. Non-essential retail activity has also declined, limiting retail property operations revenue. Overall, revenue is expected to fall at an annualised 8.2% over the past five years and total $27.7 billion in 2022-23.
Industry revenue has declined at a CAGR of 8.2 % over the past five years, to reach an estimated $27.7bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 |
---|---|---|
Scentre | 2,122.8 | |
Vicinity Centres | 1,108.1 | |
Stockland | 831.1 |
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Industry revenue is measured across several distinct product and services lines, including Regional retail premises, Sub-regional retail premises and Neighbourhood retail premises. Regional retail premises is the largest segment of the Retail Property Operators in Australia.
Unfavourable trading conditions have hurt tenant interest in regional retail premises
Retail property managers primarily lease retail property.
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ANZSIC 6712 - Retail Property Operators in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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Including values and annual change:
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Key data sources in Australia include:
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The market size of the Retail Property Operators industry in Australia is $27.7bn in 2024.
There are 55,299 businesses in the Retail Property Operators industry in Australia, which has grown at a CAGR of 1.8 % between 2018 and 2023.
The market size of the Retail Property Operators industry in Australia has been declining at a CAGR of 8.2 % between 2018 and 2023.
Over the next five years, the Retail Property Operators industry in Australia is expected to grow.
The biggest companies operating in the Retail Property Operators market in Australia are Scentre, Vicinity Centres and Stockland
Regional retail premises and Sub-regional retail premises are part of the Retail Property Operators industry.
The company holding the most market share in Australia is Scentre.
The level of competition is high and increasing in the Retail Property Operators industry in Australia.