Submitted over 2 years ago by Alan Barry
The Property Council released their office market report today, it highlights the divergence of state economies, into commodity base economies and broader based economies. Sydney and Melbourne as the capitals of states with broader based economies, have experienced a net improvement with vacancies in their commercial space at record lows.
The commodity base economies in the other states have resulted in a significant increase in vacancy rates of office stock across the board, with Perth having the highest vacancy rate at 21.6% in 20 years.
The Property Council Office Market report can be found here.