2018/2019 Market Report
August 20, 2019
Market Report 2018/2019
Real facts, real solutions
Market Report 2018/2019 Out now
Nichols Crowder is pleased to release its latest Market Report for the 2018-19 financial year. The report outlines market conditions over the past 12 months, details our performance over the period, and highlights how we assist our clients with their commercial property needs.
2018-19 was a perfect storm for commercial and industrial property. Negative sentiment across the economy and in residential property markets, combined with the banking royal commission, federal and state government elections, and a lack of foreign buyers, resulted in a difficult market across Melbourne’s South East suburbs.
However, there were some bright spots, with low unemployment across the state, interest rates being cut twice since the May federal election, commitments for greater infrastructure spending across Victoria, and personal tax cuts being locked in.
Over this period, Nichols Crowder continued to assist vendors, buyers, landlords and tenants meet their property goals. Although the number of sales transactions fell slightly, we leased out a greater number of properties.
Some sales highlights in 2018-19 include:
- In our Inner South East market, we sold 26,009 square metres of industrial, up 42.9% for the year
- For industrial properties less than 250sqm in the Inner South East, the median price increased 11.5%, to $468,500
- In our Outer South East market, median prices for industrial properties less than 250sqm increased 22.4%, to $378,000
The 2018-19 report also provides details about the new Nichols Crowder Dandenong office opening in early September. To better service our clients, and to complement our existing Moorabbin, Carrum Downs and Mornington offices, the new Dandenong office at 2/ 333 Frankston Dandenong Road, Dandenong South shows our commitment to the area.
Other report highlights include a comparison of commercial and industrial property investment compared to residential property investment, details of the exciting new Morris Moor development at the old Philip Morris site in Moorabbin, and information regarding the Dandenong South Inland Port (DSIP) that is set to be a game changer in the region.
For your copy of Nichols Crowder’s 2018-19 Market Report, please contact us at firstname.lastname@example.org