The bulky goods or homemaker market has been stimulated by strong residential construction activity.
Australia's retail market remains very competitive, but one area where people are buying is bulky goods as furniture, electrical goods and building products, according to JLL.
“The bulky goods or homemaker market has been stimulated by strong residential construction activity, and the subsequent rebound in household goods spending," said JLL’s Andrew Quillfeldt, Associate Director of Strategic Research, commenting on the firm's March quarter figures. Household good spending growth continues to improve and is up 8.2 percent nationally year on year, according to the April figures released by the ABS. New South Wales and Victoria being the major drivers, with growth of 13.8 percent and 8.5 percent respectively.
JLL’s Australian Head of Retail, Property & Asset Management, Tony Doherty that supportive economic drivers of record low interest rates, rising household wealth and an improvement in overseas tourist arrivals were still not translating into stronger demand for retail space and the leasing market remains challenging. “There continues to be a wide variance of performance between individual retailers and individual shopping centres. The retailing industry remains a very competitive environment," said Doherty.