Fortunes within the commercial property sector in Australia will differ substantially according to geographical location and individual sector as demand rises in New South Wales but falls in Western Australia and conditions improve in retail and industrial markets but soften in office markets, a new report says.

In its Market Outlook Australia for 2015, international real estate services firm CBRE says it expects modest rental growth of 2.1 per cent and 1.7 per cent for the retail and industrial segments respectively but forecasts stagnant rents (0.3 per cent) in the office sector. CBRE says while the overall…