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The Office Scene Revisited

The Office Scene Revisited

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A FEW WEEKS AGO, I gave you an overview of the CBD Office scene around Australia. And that explained there was a 2-speed market between Sydney & Melbourne, and the other capital-city CBDs.

Now the Property Council of Australia has come out with its latest Office Market Report — as of June 2016.

It confirms that Sydney and Melbourne are clearly strongest markets — with a vacancy rate of 5.6% for Sydney; and at the top end, a 21.8% vacancy rate for Perth.

Anyway to give you a fuller picture, the PCA Report has also included a number of the fringe Office precincts as well — shown in the chart below.

Bottom Line: It’s now official — Sydney and Melbourne office markets are healthy, and poised to grow further. Whereas, the other capital-city markets still have a fair way to go before they progressively bottom out.

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