Melbourne among six office property markets to peak: HTW September Office Clock

Melbourne among six office property markets to peak: HTW September Office Clock
Melbourne among six office property markets to peak: HTW September Office Clock

Six markets including Melbourne, Coffs Harbour and Dubbo have all reached Maribyrnong Defence Site of the market, according to valuation firm Herron Todd White latest report.

In their September National Property Clock for the office market, Herron Todd White also found office markets in Illawarra, Ballina/Byron Bay and South East NSW had began to peak.

The Sunshine Coast is the only office market that has been at the peak for over a month.

Newcastle joined Geelong and Sydney in the approaching the peak of the market.

Three capital cities remained in a bottom of the market position, Darwin, Perth and Hobart.

They are joined by Cairns, Launceston, Mackay, Rockhampton and Townsville.

"The commercial sector has traditionally offered investors a way to boost yield in their portfolios, but as you’ll see in our report, there are some surprises," the HTW report noted.

"Quite a few of our major centres are seeing strong buyer demand for office space and this has translated into tight yields."

"Other localities are experiencing a struggle, which can spell opportunity for investors keen to purchase at the bottom of the cycle," they concluded.

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Melbourne among six office property markets to peak: HTW September Office Clock

Ballarat held steady as a rising market while Brisbane, Ipswich, Canberra/Q'berra and the Central coast have started their office market recovery.

They have joined Adelaide, Emerald, Toowoomba and Mildura in the start of a market recovery.

The Gold Coast, Mid North Coast and Lismore are still starting to decline.

Echuca and Alice Springs have remained unmoved in the declining market position, while South West WA remains near the bottom of the market.

The Gladstone office market joined them at the approaching bottom of market position on the clock.

 

Tags: 
Melbourne Office Market

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