South East buyers buy South East
November 8, 2019
SOLUTIONSInsights, properties & results / Your solutions
The Nichols Crowder research team regularly conducts research into market trends and other factors affecting vendors, buyers, landlords and tenants. Our most recent research analyses the location of our buyers and sellers to Nichols Crowder’s offices in Melbourne’s South East region, namely in Moorabbin, Carrum Downs, Dandenong and Mornington.
- Foreign buyers are almost non-existent 15kms and more south of the city
- Majority of buyers purchase commercial and industrial property in local suburbs, close to where they live/work
- Driving this local trend in Melbourne’s South East suburbs is the major government investment in road infrastructure.
This research showed a lack of foreign buyers in our key geographic regions, despite the rhetoric of the major global property groups. While foreign buyers are prominent for commercial property transactions in Melbourne’s CBD and nearby regions, they are almost non-existent 15kms and more south of the city centre.
Our research also showed that around three-quarters of property purchasers live within 25kms of the respective Nichols Crowder office. This highlights that our buyers are local – they live locally and want to purchase commercial and industrial property in local suburbs they are familiar with and operate businesses close to where they live.
Also driving this local trend in Melbourne’s South East suburbs is the major government investment in road infrastructure. Eastlink, Peninsula Link, and the Dingley Bypass have brought suburbs in the region closer together by significantly reducing travel time, and contributing to flexibility across local businesses. The soon-to-be-built Mordialloc Freeway will further aid traffic flow and add to the attractiveness of working in the region.
For more information and additional research and insights, keep a lookout for our Annual Market Reports.