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Commercial property

Demand for Australian real estate

Factors such as population growth, infrastructure investment and job growth are expected to drive demand for commercial property in the coming decade.

The report ‘Demand for Real Estate’, prepared by CBRE explores these factors in detail, discussing what they mean for our country’s future property supply and rental outlook. Here’s a summary of key highlights from the report.

Australia’s population and income boom

Did you know, Australia is likely to experience one of the fastest population growth rates of OECD countries over 2023-2033?

As the population grows, so does the need for commercial real estate. CBRE estimate that for every 1 million new Australians, incremental real estate demand is:

  • Logistics: 4,500,00 sqm
  • Office: 800,000 sqm
  • Residential: 420,000 apartments and houses
  • Retail: 800,000 sqm
  • Hotels: 11,500 hotel rooms
  • Hospitals: ~3,300 hospital beds.

Allendale Square Perth WA

Evolving job growth

Australia has added a staggering 1.6 million jobs over the past five years to May 2024.

The growth has been 25% faster than the previous 5-year period over 2015-2020. This is remarkable considering the economy was “locked down” over 2020-21 and more recently has faced a period of constrained monetary policy (high interest rates).

Agriculture real estate – the food economy

Have you heard that agriculture contributes approx. $85 billion of production value to the Australian economy?

The demand for agricultural real estate has been underpinned by increasing domestic spend on food, Australia’s role in global food trade and productivity benefits from corporatisation of farms. These demand drivers are also playing a role across Australia’s key export markets in Asia!

Cherry tomatoes on a vine



Interested in learning more?

You can read more details about these demand drivers by downloading the full report.

Download full report

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