Shopping mall shares have the most to gain from a faster vaccine rollout ending lockdowns.
The Australian share market's Real Estate Index, which includes Westfield's parent company Scentre Group, dived by 2.4 per cent last week as 12million Australians were told to stay at home.Insurance Loans Mortgage Attorney Credit Lawyer
A two-week lockdown in Melbourne, that began in late May, also coincided with a 0.9 per cent plunge in Victorian retail sales that month, even as national activity rose 0.4 per cent, Australian Bureau of Statistics data showed.
CommSec senior economist Ryan Felsman said the uncertainty of lockdowns was hurting shopping mall assets in the short term.
Shopping mall shares have the most to gain from a faster vaccine rollout ending lockdowns. Pictured is the Australian Securities Exchange
'While the latest virus setback is not expected to derail the economic recovery, uncertainty over the duration of current government restrictions and Australia's slow vaccine rollout, are likely to weigh on consumer spending and hours worked in the near-term,' he said.
Online sales across Australia fell by 4.8 per cent in May