Get notifications in real-time for staying up to date with content that matters to you.
Office markets around the country have recorded their best performance in 20 years according to the Property Council’s latest Office Market Report.
The report reveals that during the six months to January vacancies fell in all CBD markets except Canberra, which received significant supply additions.
“All CBD office markets around the country are now under 4.5 per cent vacant,” said Property Council chief executive Peter Verwer.
Some cities’ vacancy levels are as low as those experienced in the 1980s, Mr Verwer said.
According to the report, the CBD centres with the tightest supply are Perth (0.5 per cent), Brisbane (0.7 per cent) and Canberra (2.2 per cent).
Vacancy levels are also low in non-CBD markets – with West Perth sitting at an astonishing zero per cent.
North Sydney recorded the highest vacancy rate of 11.4 per cent; the Council attributed the upcoming office markets of North Ryde and Parramatta as the catalyst for the result.
Published: 07-02-08
Major bank overhauls assessment process
A big four bank has bolstered its assessment team and will priori...
Industry reacts to cash rate decision
The Reserve Bank of Australia has announced its decision to leave...
Ignorance of extended asset write-off a boon for brokers
More than a third of SMEs are unaware of the extended instant ass...
The number one magazine for mortgage brokers
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Receive breaking news direct to your inbox each day
