Commercial investors put Ballarat on top
Care to guess Victoria and New South Wales’ most searched-for non-CBD commercial property locations? The results might surprise you.
New realcommercial.com.au data shows Ballarat is king when it comes to commercial property searches outside of Melbourne’s CBD, attracting more searches than any other location.
REA Group chief economist Nerida Conisbee says investors have identified the gold rush region as an attractive investment market.
“Over the next 15 years, Ballarat is forecast to grow by 40,000 people. This will provide both a growing workforce plus greater demand for services in the region,” Conisbee says.
The picturesque Mornington Peninsula region, about an hour south of the city, also features prominently in regional commercial property searches, while the Bendigo region rounds out the top three.
Roth Morgan Investments managing director Daniel Kolomanski, who has invested numerous times in Ballarat commercial property, says Ballarat ticks a lot of boxes for investors.
“We had made an original investment in Ballarat a few years ago – we bought some offices and well located land,” he says.
It’s no wonder the Ballarat region is proving popular for commercial property seekers and investors
“We made the investment primarily because Ballarat has a good, stable workforce. It also has education institutions, hospitals and infrastructure to support a professional workforce.
“There’s an excellent highway between Ballarat and Melbourne. As the saying goes, all roads lead to Rome, and, in this case, all roads lead to Melbourne. So that was a key factor in our decision.”
Central Coast leads way in NSW
Meanwhile in New South Wales, the Central Coast emerged on top, ahead of Sydney’s booming western suburbs.
Suburbs like Balmain and Newtown also proved popular, carrying the city’s Inner West to third place in realcommercial.com.au regional searches, while the Hunter Region, which takes in Newcastle, is also highly sought after.
Victoria’s most searched commercial property regions
- Ballarat – Greater Region
- Mornington Peninsula
- Bendigo – Greater Region
- Melbourne – Northern Region
- South East Melbourne
NSW’s most searched commercial property regions
- Central Coast
- Western Sydney
- Inner West
- Hunter Region
- Parramatta – Greater Region