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top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
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Retail development to spur market growth

By Staff Reporter
03 December 2009 | 1 minute read

A recent surge in retail building approvals suggests the retail property market may finally be on the road to recovery.

Data from the Australian Bureau of Statistics shows non-residential building approvals in NSW climbed 45 per cent since September 2008.

And approvals look set to climb further still after some of Australia’s major companies pledged to invest $6 billion into retail developments in Australia.

The anticipated completion of the $860 million Westfield Sydney Central Plaza by Lend lease, and the $1.4 million Myer Melbourne redevelopment by Colonial First State Retail Property Trust are among the retail developments set to receive monetary support.

AMP Capital is also expected to inject $2.4 billion into its shopping centres over the next five years.

Retail development to spur market growth
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.