Melbourne CBD Office Market

According to the latest Property Council of Australia data (July 2006), the Melbourne CBD recorded a staggering net absorption figure in the last six months of 173,121 sqm, bring the total absorption for the last twelve months to 213,159 sqm.

These are the highest six and twelve month net absorption figures for Melbourne since PCA records began in 1990.

“Read more”:/assets/2006/10/31/MelbourneCBDOfficeMarketIndicatorsReport-Spring2006.pdf …

Brisbane CBD Office Market

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”:http://www.colliers.com/Content/Repositories/Base/Markets/Australia/English/Market_Report/PDFs/BrisbaneCBDOfficeMarketIndicatorsReport-Spring2006.pdf …

Building Activity – ABS

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”:http://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”:http://www.gal.com.au/FREE-eBulletins/Current-eBulletins/Emerging-Issues-2.html#climate in the March eBulletin.

Australasian Labour Market Statistics – ABS

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.

Read more