Demand continued to ease back from the peak levels in the early part of 2021, with total requirements for the region now at 10.9m sq ft. The main slowing in demand over the past 12 months has been in units of <50,000 sq ft, where requirements are down by 41%. The demand for Big Box units has strengthened over the early part of 2023 and now stands at 5.4m sq ft despite the lack of supply in buildings above 100,000 sq ft.