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INDUSTRIAL LAND AT ALL-TIME HIGH
The South East Industrial market continues to go from strength to strength, underpinned by land values at an all-time high and yields at all-time lows.
Industrial land particularly has seen significant growth in value, predominantly in the past 12 months. This is fundamentally due to lack of supply and significant increases in demand, the best example being the Dandenong region Industrial land.
The Dandenong region has traditionally provided a regular supply of land for sale to the South East market, however 2017 saw the realisation that land supply was running low. This resulted in values increasing from circa $300 per square metre to $500 per square metre, for allotments typically of 1,000sqm to 4,000sqm in size.
Industrial locations which have traditionally had little land supply, such as Clayton are seeing older buildings being demolished to make way for land subdivisions. This could not have been justified years ago, however we are now seeing land values achieving circa $800 per square metre which now warrants this type of redevelopment.
Crabtrees Real Estate achieved record results in land sales in South East Melbourne in 2017, creating opportunities for both developers and owner occupiers alike.
We would be more than happy to share our results and market knowledge with you and assist with your requirements. Please contact our Oakleigh office on 03 9567 8888 or Dandenong office on 03 8795 4888 to speak to one of our Real Estate experts or visit us at crabtrees.com.au.
By Grant Tishler, March, 2018
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