Posted on Wednesday, June 1st, 2011 in by Matt Garmony
Anxiety over potential interest rate rises, higher utility costs and an increase in on-line shopping have caused softening retail spending. Two House Kitchenware stores in the Perth metropolitan area have been forced to close this week which follows that of large retailers Colorado Group, Ed Harry and Angus & Robinson earlier this year.
Consumers appear to becoming smarter with their spending habits by shopping on line for products from cheaper overseas retailers or have tightened their budgets and spending habits after the GFC. However, like retailers, landlords have been subject to rising costs and are wanting rent increases.
Garmony Property Consultants, licensed Perth valuers have witnessed generally stagnant retail and showroom market rental levels over the past couple of years with only a few exceptions for significant rental increases. The licensed valuers at Garmony Property Consultants predict similar conditions to continue in the short to medium term particularly with Perth’s two tiered economy.
Our licensed valuers are experienced in market rental valuations and reviews for Perth metropolitan retail and showroom properties and are often appointed as experts or determinators for Perth retail property market rental disputes and market rental reviews.