According to a new report, demand for office space in Australia’s Central Business Districts (CBD) has defied expectations by remaining surprisingly solid, except Melbourne, which has dropped to its lowest level on record. The Property Council of Australia’s (PCA) Office Market Report revealed that overall CBD vacancy edged higher from 11.1 to 11.2 percent in…
Australian CBD Office Vacancy Remains Solid, Except Melbourne Where It Hits 20-Year High
August 5, 2021
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Australiaaustralian commercial propertyaustralian property marketCBD office spaceVictoria lockdownWorld
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Office Vacancy Rate at Over 20-Year High Across Australia
February 4, 2021
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The vacancy rate for Australian office spaces has reached a 24-year high with a reduced demand amid the CCP virus pandemic, while at the same time significant amounts new supply have been added to the market. The Property Council of Australia Office Market Report for the six months leading to January 2021 found the vacancy…
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