Australian Logistics & Industrial Capital Markets Outlook 2025

CUSHMAN & WAKEFIELD | 27

Despite the increase in vacancy levels in Australia, it still ranks as the tightest market globally with a national vacancy rate of just 2.5%. This has continued to result in the outperformance of rental growth compared to global peers. Lower levels of forecast supply in 2025 have the potential to underpin further outperformance.

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2024 Prime Rental Growth by Market 2024 Prime Rental Growth by Market

12.0%

9.7%

11.5%

9.0%

.6%

8.4% 8.7%

6.0%

4.7% 5.0% 5.4%

3.0%

3.8% 3.9%

3.3% 3.7%

1.3% 1.4% 1.7% 1.7%

0.0%

-3.0%

-6.0%

-9.0%

-12.0%

-14.0%

-15.0%

kyo

UK

Dallas

Perth

Dallas

Tokyo

Sydney

Chicago

Brisbane

Adelaide

New York

Singapore

Melbourne

Hong Kong

New Jersey

German Hubs

Inland Empire

AUSTRALIA L&I OUTLOOK 2025 14

Despite the increase in vacancy levels in Australia, it still ranks as the tightest market globally with a national vacancy rate of just 2.5%. This has continued to result in the outperformance of rental growth compared to global peers. Lower levels of forecast supply in 2025 have the potential to underpin further outperformance.