Market Mood Matters
So much office market analysis is based on data but often the data only gets you so far when trying to determine the direction of the market. Data in its own right is historic, like office building valuations. It sets a baseline up to the time of the most recent data.
However, the data itself does not set the tone or direction of the market. The analysis of the data combined with sentiment is what sets the tone for the future. If the room is full of bulls, the market will inevitably move forward in a very positive light. If the room is full of bears, the opposite will occur.
The Property Council of Australia released its Office Market Report (OMR) statistics last week and some great data was presented. At the event, a panel of experts shared their views but overall, the mood was pensive. It was matter of fact, neither bullish nor bearish.
Over the coming weeks, I will be facilitating the Corenet Global State of the CRE market panels in Sydney (13th February), Brisbane (19th February), Melbourne (26th February) and Adelaide (26th March) with Canberra and Perth pending. The panels explore the relevant market data and matters affecting CRE. They help us to gauge the mood of the room and market participants on the ground.
It is this mood that moves the markets in various ways and we will share our mood barometer once the tour is completed.
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