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Enquiries surge January 2020

February 7, 2020
Enquiry surge January 2020

SOLUTIONSInsights, properties & results / Your solutions

In a positive sign for the commercial and industrial property market in Melbourne’s South East, new enquiry from both buyers and prospective tenants in January 2020 is up more than 20% compared with the same period last year.

Nichols Crowder tracks the number of direct enquiries each week via its customer service database. Although the sales team sensed an uplift in enquiry, we were a little surprised to find such a significant swing year on year. This resulted in both sales and leases finishing up strongly for January, which is traditionally one of the quietest months of the year.

Most of these transactions were in negotiation prior to the Christmas holiday season. Normally, around half of incomplete transactions do not eventuate in the new year, particularly at the smaller end of the market. However, 2020 is proving to be different with the majority of transactions being finalised, as well as excellent fresh enquiry triggering new negotiations.

We are finding particular strength in new enquiry from established business owners and investors, who have a certain air of clarity in what they are looking for. In contrast, tenant enquiry for smaller-sized properties has been more fickle, with many negotiations taking considerably longer to finalise.

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We’re proud to lease and sell, through auction and private sale, hundreds of commercial and industrial properties annually. Beyond that, our property management services extend across Melbourne, into regional Victoria and interstate. Our quest for innovation, real experience, unmatched database and the fact that we’re the only commercial and industrial agents with offices that stretch from Bayside to Moorabbin, Braeside to Dandenong and Carrum Downs to Mornington Peninsula has made us the Leaders of the South East.