CBRE revenue points to slowing market
Revenue growth slowed over the three months to June in the local operations of commercial real estate agency CBRE as chief executive Phil Rowland pointed to rising rents and weakening transaction volumes.
CBRE Pacific Advisory Services did not break out detailed figures for its operations as Dallas, Texas-based parent CBRE Group published quarterly earnings, but the Australia-New Zealand business said revenue over the six months to June rose 14 per cent year-on-year but only 2 per cent on the previous corresponding quarter.
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