VIC MARKET OVERVIEW
VICTORIA
VIC Market Overview with Matthew Wright & Zomart He How does the property market in (VIC/ NSW/WA/SA etc) compare to other
fortunate our business went from strength to strength due to the assets we specialise in ‘Essential Service’ investments becoming the most sought after assets and sectors within the commercial investment market. Essential Service investments include: Fuel, supermarkets, medical, childcare, supermarkets; which have the ability to trade through all conditions, are still the most in demand assets today. What do you see as the biggest challenges that face buyers and sellers in todays market? Naturally the biggest challenges we are seeing is rising inflation, interest rates, construction costs, labour costs and supply chain issues all influencing the market in different ways. Sellers in most cases are after ‘unconditional’ or ‘clean’ sales which again we are fortunate to offer through our iconic portfolio auctions however, when we are dealing with more complicated sales and or development sites, it is important to ensure we are in full and transparent dialogue with prospective purchasers to ensure we fully understand what issues they are currently facing and how that may affect them in their purchase. This enables us to keep our vendors fully up to date and work through complications that can enable some creative deal structures that maximises our clients
states at the moment and what are some key trends that are occurring? We are very fortunate at Burgess Rawson to be under the same ownership structure across the entire eastern seaboard which enables us to work in all different markets right across the country. One of the key trends we’ve seen is the strength of a regional assets across Australia. Investors are willing to look at all areas of the country now rather than the traditional capital cities and inner metro locations. We have seen demand and growth for properties in Far North Queensland where the market didn’t suffer the same affects from Covid as other regions around Australia. So much is the growth of Far North Queensland we have recently opened an office in Townsville which will facilitate the servicing of the Far North Queensland region. What sectors are most in demand? When the pandemic was declared, Australia went into a period of uncertainty including the entire property market. All owners, potential purchasers and property professionals were flying a little blind as to where it all may end up. Fast forward to today and looking back throughout the pandemic and post pandemic, we were
MATTHEW WRIGHT Senior Sales Executive Burgess Rawson
ZOMART HE Asian Services Burgess Rawson
46 – August / September 2022
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