Conditions have tightened across the market reducing total vacancy of prime stock to 1.4% and secondary stock to 2.8%. With the mining and resource boom the primary driver of the market, demand is strong and supply is restrained.
“Read more”:https://www.colliers.com/Content/Repositories/Base/Markets/Australia/English/Market_Report/PDFs/BrisbaneCBDOfficeMarketIndicatorsReport-Spring2006.pdf …
In the June quarter 2006, the seasonally adjusted estimate of total building work done rose in all of the states and territories except Tasmania (-9.1%). The largest rises were in the Northern Territory (+17.6%), the Australian Capital Territory (+15.5%) and Western Australia (+12.6%). “Read more”:https://www.abs.gov.au/ausstats/abs%40.nsf/mf/8752.0?OpenDocument …
This would seem to add weight to what I covered on the “Australasian Construction Climate”:https://www.gal.com.au/FREE-eBulletins/Current-eBulletins/Emerging-Issues-2.html#climate in the March eBulletin.
In 2005-06, more than two-thirds of employed men aged 15-19 years worked in the Retail trade (42%), Construction (15%) or Manufacturing (11%) industries. Most of those working in Retail trade were employed part-time (77%), though part-time workers were much less prevalent in the Construction (14%) and Manufacturing (20%) industries.
The demand for suburban offices is strong, and construction is underway for 848,000 sqm of space across some 90 projects.
Land Mark have just released a “detailed report”:https://www.lmw.net.au/research/Byte/061004.pdf showing you the latest facts and figures.
Hawthorn has been the pacesetter in Melbourne’s suburban office market this year with limited opportunities for new development and tenant demand for extra or improved space driving up rents and pushing down vacancies.
But while Hawthorn — and particularly Burwood Road — in the inner east has been red hot, the opposite story has come out of the suburbs of Mount Waverley and Mulgrave, where an over-supply of office stock has failed to be absorbed and rents have been stagnant.
“Read more”:/assets/2006/10/31/Offices-SE-Suburbs1.pdf …
