Western Australian shopping centre managers are the most optimistic in the country, tipping sales growth over the next year thanks to relaxed Sunday trading laws and continuing strong economic conditions, new research says.
Jones Lang LaSalle’s latest survey of retail centre managers, released this afternoon, showed interest rate cuts had limited impact on tenant enquiries or consumers, with both remaining cautious.
The survey found sentiment had weakened marginally, with 53 per cent of centre managers expecting growth in sales in the next 12 months in August, down from 57 per cent in May.
Jones Lang LaSalle head of property management, Richard Fennell, said the bright outlook in the survey came mainly from WA centres.
“Centre Managers in WA are more positive than their interstate counterparts about the year ahead, due to continued strong economic conditions and the relaxation of WA’s Sunday trading laws from August, which is expected to boost the trading prospects of suburban centres,” Mr Fennel said.
“Only 7 per cent of respondents to the survey were positive about the economy in the year ahead, and all but one of these respondents represented shopping centres based in Western Australia.
“WA leads Australia on virtually every economic indicator, including economic growth, unemployment, retail trade and population growth.”
The survey was conducted across 83 shopping centres managed by Jones Lang LaSalle nationwide.