Market Update January – December 2020
A Roller Coaster 2020 Ending with a Full Head of Steam
When you look at the metrics of a COVID 2020 it’s amazing to see the resilience of a market disrupted by so much but ultimately rebounding so strongly due to underlying fundamentals.
- Transactions weighted more to leasing than the previous 12 months.
- Average m2 leasing rates remained constant however m2 sales rates for factories increased 12% underpinned by quality product and rising land prices.
- Land sales continued in popularity particularly post the extended hard lock down. Opportunities are now severely restricted in Dandenong, Carrum Downs, Cranbourne and Clyde North. Limited supply is available in Pakenham and is definitely worth exploring.
- Total transactions only fell 5% for the 2020 calendar year an extraordinary outcome given the peaks and troughs and a key indicator to industrial asset popularity and the region as a whole.
It’s fair to say that 2021 has started with a flurry and we expect the next 18-24 months to be solid. Best of luck with your endeavours over the year and we look forward to being of assistance.