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‘No stone is unturned’ as a Western Sydney agent makes a move

By Kyle Robbins
12 October 2023 | 12 minute read
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A Western Sydney agency’s newest member has had a stellar start to his real estate career and hopes his next career move will “further harness [his] skills”.

Industrial sales specialist Owen White admits it was business and numbers acting as commercial real estate’s sun, around which everything else in the industry flows, that attracted him to the sector.

“I enjoy the sophistication of what’s involved in commercial property, and the potential uptick of what it can be,” he shared with REB, following the announcement of his alignment with Ray White Commercial Western Sydney.

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A self-proclaimed people person, Mr White believes the success he’s experienced in his short real estate career is not purely due to his amiable nature.

“I dedicate my previous success to work ethic and discipline,” he shared. “In real estate, you are constantly dealing with the ups and downs and management of expectations. I enjoy the hustle and constantly push myself each day to ensure no stone is unturned, ensuring my clients receive a premium service.”

In a recent economic climate dominated by rising interest rates and a high inflation environment, this level of dedication to undertaking the proper due diligence is perhaps more important than ever, as prices dwindle and borrowing becomes costlier.

Coming off the back of the Reserve Bank of Australia’s (RBA) intense rate hiking cycle over the last 18 months, Mr White explained overall market activity in the commercial sector, particularly from investors, dried up.

“[This] means we need to have a thorough understanding of which buyers are still active in the market, and how to capitalise on this to best serve our clients,” he noted.

However, even if buying activity has recently pared back, Mr White detailed prices have remained relatively steady in light of conditions akin to the residential property market.

“Record low vacancy levels in combination with the lack of industrial land and freehold assets has contributed to the steady performance of the industrial asset class,” he said, adding “growth has occurred [in the last 18 months] even as yields have slightly softened with interest rates.”

Now, having made the move to Ray White Commercial Western Sydney due to their offices size and scalability, Mr White also revealed he’ll predominantly focus on suburbs lying along the M4 corridor, notably Penrith, St Marys, Minchinbury, Mount Druitt, Arndell Park, Blacktown and Girraween.

As for which asset class is being most hunted by clients, he detailed how 1,000-square-metre-plus freestanding industrial warehouses have gone gangbusters in recent months “due to the lack of availability” paired with “businesses that have remained resilient and stronger following the pandemic [being] in need of expansion and upsize warehousing requirements”.

Moving into 2024, and with the potential the RBA’s rate hiking cycle has reached its peak following the board’s fourth consecutive rate hold in October, Mr White expects a “higher level of confidence return to the market which should stimulate more buyer and tenant activity”.

“I suspect we are in fact at the top of the rate cycle and that industrial property prices will remain strong and resilient in alignment with respective rates, also taking into account the vast lack of supply and industrial land available,” he concluded.

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