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David Morton

Office Market Dynamics in the Most Liveable City

MELBOURNE’S IDENTITY as the World’s Most Liveable City owes much to the transformation of its Central City over the past two decades — into a series of vibrant projects, places and precincts. And these offer an interesting mix of … housing, offices, retail, entertainment, tourism, dining, civic and cultural opportunities — where there are concentrations of people wanting to live, work and play.

Whilst the development of apartments has been transformational for the Central City, this segment is about to enter a phase of historic high supply (2013-2015) as well as unprecedented levels of “internationalisation” of the product, developers and capital associated with this market. [Read more…]

Industrial Property Starts to Makes Sense

INTERESTINGLY, the Industrial property market in metropolitan Melbourne still remains the largest in Australia.

The market has evolved significantly over the last two decades — largely underpinned by the strong growth in supply chain sectors (ie: the transport, logistics and distributions sectors).

In addition, there has been significant infrastructure investment, population and workforce growth … along with the entry of major institutions and developers. [Read more…]

Retail Sector Still Patchy

IN RECENT TIMES, the entire retail sector has been hit on two fronts — with local traders having been challenged by both the highest-rated in dollar, and weakened global economic conditions.

Plus, you’ve also seen a structural shift in how modern consumers are choosing to engage in the market — with the continued growth of online consumer purchases.

The effect of Global uncertainty [Read more…]

Melbourne Office Market is Holding Its Own

Melbourne-OfficesMELBOURNE is Australia’s second-largest office market, and has remained relatively resilient since 2010.

A range of factors supported this, including … limited new supply and growth in absorption (driven by Australia’s economic recovery during that period).

Underlying Strength

On the demand side in particular, the size and diversity of Melbourne’s white-collar workforce was a key reason supporting the market’s resilience, although on-going staff reductions in the finance and government sectors is lessening demand. [Read more…]