"Some businesses are likely to fail on this basis particularly in sectors where real growth is not occurring," he said.
"All businesses are struggling to maintain profit margins. Business owners need to be conscious of rent review clauses in their leases and not be caught out."
"Property owners need to be mindful of 'real economic' conditions and work to retain the tenant rather than absolutely maximising rental returns.
"Security of cashflow will be a major driver of value in a less dynamic market.
"Tenants are likely to be harder to secure in a softer economic environment. A tenant paying a slightly lower rent is far more palatable than no tenant paying no rent,"
"Tenants should consider securing their own premises to alienate themselves from these issues if they can secure debt funding."
Colliers International residential research director Jonathan Rivera said today's announcement is an indicator that 2009 will be a soft year for the economy.
"Considering the current global financial stability, many economists are predicting a rate cut next month of half a percentage point despite today's inflation figure release," he said.
"The next release of CPI is likely to reflect the decline in the cash rate of 100 basis points.
"With this in mind it is possible we will see a decline in inflation when the December 2008 CPI is released on January 28 next year," he said.
"Obviously the constraints are still on consumers – all eyes are on the December release."
Colliers International research director Rory McLeod said today's Consumer Price Index announcement was anticipated.
"It was anticipated by the Reserve Bank – they discussed a potential five per cent increase when they lowered the cash rate," he said.
Mr McLeod said the quarterly rate of inflation had slowed.
"It's been a 1.2 per cent rise quarter on quarter but that's less than the 1.5 per cent rise in the June quarter," he said.
"Generally the major contributor to the raise was housing costs which include rents which went up by 2.1 per cent and property rates and changes which went up by 6.1 per cent," he said.
"The Government review their charges for water and electricity in this quarter – so it is exacerbated in this quarter
"It's unlikely to cause the Reserve Bank to change its policy towards interest rates.
"Just because inflation goes up doesn't been interest rates will go up."