Region. Status of industrial markets

Outer North West is driving industrial development and over the 2009-2010 period it is expected to account for nearly a third of all new floor space added to the Sydney industrial market, according to CBRE’s latest Industrial MarketView Report. Another big year is expected in 2009 for new supply in Outer South West, following on from the record levels of floor space completed in 2008. The prediction is for 243,000 square metres of space to complete in 2009. New space is becoming difficult to find in the Central West but the stalling of rental growth over the last couple of years suggests that tenants have decided to look for industrial space in other sub-regions.. Outer Central West is the heart of Western Sydney’s industrial market, with Wetherill Park and Smithfield, ranked first and second in terms of industrial floor space in metropolitan Sydney, however, stock in the area is beginning to age.