VIC MARKET OVERVIEW
VICTORIA
VIC Market Overview with Matt O’Dea What’s happening in the Vic South East Industrial market at the moment and what are some key trends that are occurring?
to see if this trend will continue throughout 2023 given interest rate pressures. Tell us about Facey and why you continue to be one of the lead agencies in the South East Facey Property is a leading real estate agency in the Melbourne South East Industrial market with origins dating back over a century. Our commitment to providing high-quality service and delivering results for our clients has made us one of the most respected and trusted names in the industry. One of the key reasons why Facey continues to be a lead agency in the South East is our deep understanding of the local market. Our team of experienced professionals has a wealth of knowledge about the local area and the unique challenges and opportunities it presents. This allows us to provide our clients with expert advice and guidance on everything from market trends and rental rates to development opportunities and investment strategies. Another reason why Facey remains a lead agency in the South East is our commitment to staying at the forefront of innovation and technology. We are always exploring new and better ways to serve our clients, whether it’s through the use of cutting-edge marketing tools or the implementation of new and more efficient processes. This focus on innovation helps us to provide our clients with a level of personalised service that we’re determined to lead with.
The Melbourne South East Industrial market is currently experiencing sustained limited supply, which is maintaining prices despite reduced confidence in the market. The limited supply is caused by several factors such as high demand for industrial properties, scarce land for development and limited new construction activity. As a consequence, businesses and investors continue to encounter sturdy competition for industrial spaces, resulting in higher rental rates and strong sale prices. Who have been key investors over the last 18 months and have you seen a shift from previous years? Over the last 18 months, the Melbourne South East Industrial market has attracted a range of key investors, including both local and international investors. Some of the largest investors in this market include institutional funds, private equity firms, and property investment trusts. These investors are attracted to the Melbourne South East Industrial market due to its strong economy, highly skilled workforce, and growing demand for industrial space. Outside Investors by far the biggest group of active buyers in the market has been in the owner occupier space and it will be interesting
MATT O’DEA Director Facey Property Victoria
44 –February / March 2023
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