Industrial investment plummets in 2008

Industrial investment across Sydney, Melbourne and Brisbane has declined sharply from a peak in late 2007, according to data from LMW Research.

Sales in the Sydney metropolitan area totalled $468.2 million in calendar 2008, representing 30 sales of more than $5 million, a fall of more than 68 per cent on sales in calendar year 2007.

Wholesale funds continued to be the major investor this year, with investments of $150.38 million, down on the peak last year of $950.3 million.

Brisbane posted 24 transactions since this year with a value of $300.63 million, representing 40 less transactions of more than $5 million than last year and turnover of less than one-third of the $938 million in 2007.

Only 24 sales of more than $5 million were recorded in Melbourne this year, totalling only $217.67 million, down from the $1.64 billion of last year.