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Commercial property to continue to perform well

The commercial market is expected to mirror the strength being seen in the residential market.
The commercial property market is mirroring the levels of strength being seen in the residential sector across Australia, experts have claimed.

Property prices for houses and apartments have continued to perform very strongly so far in 2014, with rises happening time and again thanks to the fact demand has remained strong.

And now, according to the latest report from Dexus Property Group, owners of shopping centres, factories and office towers will be seeing the same sort of strength in the next 12 months.

"Over the next 12 months, lead indicators are pointing to improving office market conditions, including increased business confidence in response to low interest rates, a strengthening in employment growth and a continued migration of tenants to CBD markets," chief executive Darren Steinberg said in a statement.

The company said it expects funds from its operations in the commercial property market to increase to 8.34 per cent this year, an improvement on the 7.6 per cent on the past financial year.

Posted by Ravin Chatlani

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