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.
The regional hub, about 90 minutes west of Melbourne, is Victoria’s third largest city and is home to substantial tourism and hospitality industries. 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.
“When you look at the population projection, combined with its close proximity to Melbourne and its strong education and research sectors, it’s no wonder the Ballarat region is proving popular for commercial property seekers and investors.”
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.”
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