empty shopping shelf
Image – Canva.
  • Although trade is down 1.1% for February, it's up almost 9% year-on-year
  • Ongoing COVID concerns cited as the main issue, NSW and QLD offset part of the fall
  • Previously, retail turnover rose 0.5% in January while online retail saw 4% growth

Understandably, retail across Australia has seen mixed results over the past few months, with snap lockdowns across Western Australia, Queensland and Melbourne affecting physical retail, among other ongoing issues nationally.

The Property Tribune reported online retail saw 4% growth in March, as per NAB’s Online Retail Sales Index, and slow recovery of 0.5% growth in turnover from December 2020 to January 2021.

Seasonally adjusted percentage change
Source – Australian Bureau of Statistics.

In the latest Australian Bureau of Statistics data released on retail trade, turnover for February dropped 1.1%, undoing the marginal growth of prior months. Overall, however, retail trade rose 8.7% year-on-year to February.

“Restrictions due to COVID-19 in Victoria, and parts of Western Australia, drove the February fall. Victoria fell 4 per cent, and Western Australia fell 6 per cent, as trade was restricted for five days in each state.”

Director of Quarterly Economy Wide Surveys, Australian Bureau of Statistics, Ben James

Mr James also noted that the “falls were partially offset by rises in New South Wales and Queensland. Both these states had seen trade impacted by COVID-19 in January, and in February saw rises in industries such as clothing, footwear and personal accessory retailing and department stores.”

Seasonally adjusted and trend level
Source – Australian Bureau of Statistics.

Seasonally adjusted, Australia saw $30.192 billion in retail turnover.

You May Also Like

Cost of living dampens commercial retail property outlook

Many retail property investments likely to continue softening during 2023 according to Herron Todd White

EG’s Private Wealth division purchases tavern and liquor store for $19.29M

Tenanted by the Coles Group on a 20-yr lease

Aventus and HomeCo Daily Needs REIT to merge

Combined portfolio worth over $4 billion

August retail sales slide 1.7%

Clothing, footwear and personal accessory the hardest hit

Experts Corner by The Property Tribune

Ko & NPA partner to launch several co-owned luxury properties at Mermaid Beach, Gold Coast

Ko's partnership with NPA Projects provides more opportunities to co-own off-the-plan holiday residences, including exclusive Gold Coast properties

Continue reading

Top Articles

Expert tips on how to be a successful property investor

Property expert and buyer's agent, Lloyd Edge, shares his insights.

Australian commercial property update: Industrial and tourism assets lead the pack in trying times

Commercial assets have faced volatility recently, driven by financing changes and demand fluctuations from institutions and funds.

WA has emerged as a property investment hub, and why that's a good thing

Eastern investors chase Perth's affordability, doubling the distance between home and investment in 2023, reveals MCG research.