In what one seasoned industry observer dubs “bonanza” conditions, Melbourne industrial land values have soared by up to 100 per cent in the last 12 months as a confluence of factors starts to bite.

The sharpest increases are apparent in the west, where some prices have doubled despite the former Cinderella region’s reputation for having an abundance of land.

Cushman and Wakefield national research director Tony Crabb said he had never such strong growth over two decades.

He attributed the trend to a lack of services land available for immediate development, increasing infrastructure costs and planning delays that prevent zoned land from getting to market.

“The incursion of residential into traditional industrial zones can be seen most clearly in the inner city, but also in the middle ring suburbs where industry is displaced to outer areas,” he said.