Ensure you never miss an issue of the
real estate business bulletin
CBD office markets lead the way

CBD office markets lead the way

by Matthew Sullivan 0 comments

The nation’s office markets continue to lead the way over their suburban counterparts, with strong demand and a lack of available stock pushing vacancy rates to the lowest level in two years.

According to the Property Council of Australia’s (PCA) latest Office Market Report, total vacancy in Australia’s office markets decreased from 9.6 per cent to 9.0 per cent in the six months to July 2011.

Australia’s CBD office markets continue to outperform suburban office markets in terms of vacancy. Over the six months to July 2011, CBD markets fell 0.3 per cent to 8.4 per cent, while non-CBD market vacancies declined 0.9 per cent to 10.5 per cent, over the period.

“The CBD office markets are the property success story of the past year, with four of the six markets tracked by the Office Market Report showing vacancy of less than 8.0 per cent,” Property Council’s chief executive Peter Verwer said.

“While suburban office market vacancy lags the CBD market, there is still a positive story here. Total vacancy in non-CBD markets reduced over the six months to July 2011, and while the aggregate is still at 10.5 per cent, two-thirds of non-CBD markets tracked by the report show vacancy below 10 per cent.”

Melbourne’s CBD recorded the nation’s lowest vacancy rate with 5.8 per cent, while Sydney was the only capital city to record an increase to 9.3 per cent – up one per cent over the six months to July 2011.

CBD office markets lead the way
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?