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  • Research
  • 10 minutes

Australian Real Asset Quarterly Review Q4 2026

  • By Dexus Research
  • 19 October 2026
Quay Quarter Tower, Sydney

 

 

 

Dexus Research has released its Q4 2026 Australian Real Asset Review (ARAR), examining how real asset markets are responding to a higher cost of capital. 

 

Real estate operating fundamentals remain resilient, with occupier demand and constrained new supply supporting rental growth, particularly for well-located, high-quality assets. This is providing an important offset to a harder capital market backdrop. Higher interest rates and bond yields have increased financing costs and, all else equal, are likely to have placed upward pressure on investors’ required returns. This is weighing on sentiment and transaction activity and limiting the potential for near-term capital value growth.

 

The report also features Australia’s Productivity Challenge. Construction output per hour worked is only 5% higher than it was 30 years ago, while construction costs have continued to outpace inflation. The analysis examines how weak productivity is constraining new supply and increasing the cost of developing, fitting out and upgrading real assets.

 

 

Read on for more insights

Australian Real Asset Quarterly Review Q3 2026
Research
Australian Real Asset Quarterly Review Q3 2026

Dexus Research has released its Q3 2026 Australian Real Asset Review (ARAR), examining how Australia's real asset markets are evolving amid an uncertain economic backdrop and a still-elevated interest rate environment. After a difficult start to 2026, recovering business confidence and a share market close to record highs point to a more constructive outlook than initially feared, even as global uncertainty lingers.

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All information contained on this website (“Information”) is subject to change without notice. While every care has been taken in the preparation of the Information, to the extent permitted by law, Dexus (ASX: DXS), its related body corporates and each of their respective directors, officers and employees do not make any representation or warranty, express or implied, as to the accuracy, currency, reliability or completeness of any statement in it, including, without limitation, any forecasts, and do not guarantee the repayment of capital, or the performance of or any particular rate of return for the Dexus fund referred to on this website.  Past performance is not a reliable indicator of future performance. 

 

The Information has been prepared for the purpose of providing general information only, without taking account of any particular investor’s objectives, financial situation or needs. Investors should, before making any investment decisions, consider the appropriateness of the Information, and seek professional advice, having regard to their objectives, financial situation and needs.

 

Dexus Funds Management Limited (ACN 060 920 783, AFSL No. 238163) is the responsible entity of Dexus (ASX: DXS) (the “Fund”) and the issuer of stapled securities in the Fund. The Fund comprises two registered schemes, Dexus Property Trust (ARSN 648 526 470) and Dexus Operations Trust (ARSN 110 521 223).

 

The Information should not be considered to be comprehensive or to comprise all the information which a potential investor may require in order to determine whether to invest in the Fund. The Information is not intended for distribution or use in any jurisdiction where it would be contrary to applicable laws, regulations or directives and does not constitute a recommendation, offer, solicitation or invitation to invest.

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