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Clur report reflects strengthening shopping centre trade
The favourable upward trend seen since September in annualised trading densities has continued and has now broken through zero on a nominal basis, says Belinda Clur, MD of Clur Research International.
Year-on-year growth
She says the key consolidated Clur benchmark for subscribing South African shopping centres showed annualised trading density for March of R33,280 per m2, representing year-on-year growth of 1.8%. The respective February figures were R33,035 per m2 and 0.4%. This represents a consistent improvement on the -1.7% level reported in September 2017.
The March Clur benchmark for annualised trading density at super regional and regional centres showed year-on-year growth of 1.2% to R35,332 per m2. That compared with the February benchmarks of R35,057 per m2 and -0.5%.
At small regional, community and neighbourhood centres, the Clur benchmark for annualised trading density in March was R28,737 per m2. That meant year-on-year growth of 3%, better than the 2.3% and R28,558 per m2 reported for February.
Overall, turnover across the monitored properties grew 7.1% in March 2018 against March 2017, and was up 3.3% over the 12-month rolling period to March 2018.