How the Echuca and Deniliquin commercial markets have fared during the coronavirus pandemic: HTW
As a result of the Coronavirus there is a high degree of uncertainty in the commercial sector across townships in south-west New South Wales and northern Victoria, according to the latest report from valuation firm Herron Todd White.
“This uncertainty will remain until there is some stability in the marketplace around what are sustainable rental levels in any commercial sector in the foreseeable future,” the firm said in their April Month-in-Review report.
Owner-occupiers are a significant factor in these areas according to the report.
"The For owner-occupiers, turnover and profit are key factors in determining the value of industrial real estate."
Similar to investors, unless the owneroccupier has confidence in the level of profit that is sustainable in the foreseeable future, they are unlikely to commit to purchasing property.
There has not been a single sale or transaction in the area since the onset of the Coronavirus pandemic.
