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David Morton

Office Market Dynamics in the Most Liveable City

CBD-Offices
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

Industrial-Property
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

RetailPatchy
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…]