Data from research firm IBISWorld indicates that those looking to buy Darwin commercial property would be wise to utilise the services of real estate professionals.
The organisation reported that while the commercial and industrial construction industry is set to see revenue of $29.6 billion during 2013-14 – an increase of 0.7 per cent from the previous year – profit is still well below peak levels in 2007-08.
This is because “confidence in the commercial property market has struggled to recover due to the fragile global economy and sluggish local consumption and investment trends”, according to IBISWorld Industry Analyst Anthony Kelly.
“The industry’s performance corresponds with the slump of private investment into commercial and industrial buildings in the aftermath of the global financial crisis and weak investor confidence,” Mr Kelly continued.
However, increases in commercial and industrial construction does represent a positive indicator for potential investors in this sector.
Therefore, investing in the expert market knowledge of real estate professionals is a smart way to engage in commercial property investment strategically, taking advantage of a gradually strengthening market while also protecting yourself from a market still struggling with confidence following global economic issues.