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Throughout the Lend Lease centres, in line with the industry trend, supermarkets have shown very strong growth. Supermarkets have shown much stronger growth than specialty food outlets with very strong dollar per sq m turnover increase. This is partially because supermarkets are offering more to the customer, but it is largely convenience.

The part of conveyancing specialists is a critical one in the entire process as their part is to direct and Longer trading hours have benefited supermarkets and this is particularly evident in Victoria where Sunday trading came in late 1996. As a result of the change in spending patterns, Lend Lease last year shifted the focus of its market research to a lifestyle based approach, segmenting shoppers into lifestyle patterns rather than age. We tailor our marketing to lifestyle patterns rather than to a specific age group. This is an innovative approach and we are pioneering it at a couple of our centres," says O'Brien.

"Geographically, retail performance has followed economic patterns and rates of population growth.” "In Tasmania and South Australia performance has been sluggish, while Canberra has also experienced very little growth." "Sydney is breaking even, Brisbane tends to be over shopped with centres still being developed and Western Australia has been performing well."

"High unemployment in some areas has been tempered with strong population growth and a demand for convenience items." "This is where convenience centers, discount department stores and supermarket chains have benefited. Property developers are concentrating on these centers" such as Triplexes Property Management and Stock land, have benefited from this trend.

Those retail centres poised to benefit from Australian's changing spending patterns and the more discerning 1990s consumer are food based con. According to BIS Shrapnel's report Retail Property Market Forecasts and Strategies 1997 to 2007, this trend is already apparent. Stock land Trust Group has 62 per cent of its assets in retail property. The group is slightly unusual in its structure as the trading group, Stock land Corporation Limited, is separated from the trust, Stock and Property Trust.