Repeaters inside a Relationship?

I have two Collections. One called "Markets" and the other called "Applications".

Inside the Applications Collection I have a repeater.

I want to loop through the Applications Collection on a Market page rendering the contents of the Applications's repeater too. It doesn't seem to be rendering currently and shows the Application repeater in the Markets Collection.

Effectively it looks like this:

<repeater>
    <relationship>
        <repeater>
        </repeater>
    </relationship>
</repeater>

CODE

<perch:repeater id="market_app_group" label="Application Group" divider-before="Market Applications">
    <div class="card">
        <div class="card__entry">

             <perch:related id="application" collection="Applications" label="Add Applications" help="Add Applications you want to include">
                  <h3>
                       <a href="<perch:content type="text" id="slug" />">
                           <perch:content type="text" id="title" /></h3>
                       </a>
                  </h3>

                  <div class="row">

                      <perch:repeater id="application">

                              <div class="large-6 small-12 columns">
                                     <div class="card__feature">
                                        <img src="<perch:content type="image" id="app_image_thumb_100" crop="true" width="100" height="100" />" alt="<perch:content type="text" id="title" />" width="80" height="80" />
                                         <h5><perch:content type="text" id="app_title" /></h5>
                                         <p><perch:content type="textarea" id="app_desc_aerospace_card" /></p>
                                      </div>
                              </div>

                         </perch:repeater>
                    </div>
             </perch:related>

      </div>
   </div>
</perch:repeater>