Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Melbourne vacancy rates at record lows

By Staff Reporter
14 October 2009 | 1 minute read

Melbourne’s commercial property market is enjoying record low vacancy rates, according to CB Richard Ellis.

Advertisement
Advertisement

CBD retail vacancy in Melbourne fell from 2.8 per cent to 2.5 per cent in the September quarter.

Similarly, the vacancy rates in Melbourne’s lanes and arcades dropped from 4.8 per cent to just 1.5 per cent.

Rates also dropped in Hardware Lane, Midtown Plaza and Equitable Place.

CBRE retail agent Max Cookes said the vacancy rates in the laneways were performing particularly well because the culture in Melbourne is such that people are more attracted to the laneways because they offer elements such as personalised baristas.

Melbourne vacancy rates at record lows
default
lawyersweekly logo

Tags:

Listen to other installment of the Real Estate Business Podcast

 

Do you have an industry update?

top suburbs

12 month growth
Queenton
69.76%
Flying Fish Point
69.61%
Point Piper
69.17%
Glenelg South
69.02%
Pretty Beach
69.01%
Bar Beach
68.9%
Northampton
68.7%
Kembla Grange
66.91%
Boomerang Beach
66.67%
Gnarabup
66.67%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.