Victoria’s property market remained active through H2 2024, despite macroeconomic headwinds.
Industrial saw $4.07B in transactions, driven by offshore and private capital, even though rental growth plateaued. Office vacancies in Melbourne’s CBD reached 18%, with incentives remaining heightened and investor activity cautious. Retail recorded $2.05B in sales, with strong demand for sub-regional assets and signs of renewed institutional interest.
Childcare and Healthcare remained resilient, with private capital dominating both sectors. Residential activity remained subdued, but interest rate cuts and tax incentives are expected to lift sentiment in the latter part of 2025. Hotels and Accommodation showed a solid recovery, with ADR and occupancy up, despite reduced transaction volumes year-on-year.
Our experts across valuation sectors share their analysis and insights in our latest Victoria Market Snapshot covering the second half of 2024, as well as what to look out for in 2025, across Childcare, Healthcare, Hotels & Leisure, Industrial, Office, Residential Development and Retail.
Click the link below to read the full Snapshot.
VIC Market Snapshot – April 2025
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